Tinubu Seeks Reps’ Approval to Issue N269.45bn Promissory Notes

President Bola Tinubu has asked the House of Representatives to approve N269.446 billion in promissory notes to settle the federal government’s outstanding, verified financial obligations. The request, conveyed in a letter signed by Secretary to the Government of the Federation George Akume, was read during Tuesday’s plenary by House Speaker Tajudeen Abbas. The liabilities include unpaid contracts, project costs and other commitments to creditors, with the programme intended to spread payments over time without putting immediate pressure on government cash flow. Tinubu has also sought Senate approval for external loans of $20.52 billion and €1.05 billion to build the Lagos-Calabar Coastal Highway.