Nigeria's Tinubu seeks $7.7bn new external loan, withdraws prior request

President Tinubu has withdrawn a previous external borrowing request and submitted a new $7.7bn loan proposal to the National Assembly, with more detailed terms on funding sources and conditions. The shift suggests a recalibration of Nigeria's external financing strategy amid fiscal pressures, though the specific lenders and terms remain undisclosed. The outcome will signal Nigeria's access to international capital and its debt trajectory.

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