President Bola Tinubu has asked the House of Representatives to approve a fresh ₦1.15 trillion borrowing from the domestic debt market to finance the deficit in the 2025 budget.

The request was presented on the floor of the House by Deputy Speaker Benjamin Kalu after a closed-door executive session that lasted over two hours.

Lawmakers reconvened for plenary on Wednesday following a directive from the leadership after Tuesday’sadjournment prompted by a protest from indigenous contractors over unpaid fees.

Shortly after the day’s opening formalities, members went into another closed-door meeting and later dispersed into committee sessions, which lasted about two and a half hours before the president’s letter was read.

The communication explained that the National Assembly’s upward review of the 2025 budget to ₦59.99 trillion created an unfunded deficit of about ₦1.15 trillion, necessitating additional borrowing to bridge the gap in line with the Fiscal Responsibility Act.

The request was referred to the House Committee on Aids, Loans and Debt Management for further legislative consideration, after which the House adjourned plenary until next Tuesday.