Nigerian lawmakers have approved President Bola Tinubu’s proposal to borrow $2.21 billion from foreign investors to cover a $5.46 billion budget deficit in 2023. The funding includes $1.7 billion in eurobonds, the first issuance since 2022, and $500 million in sukuk bonds. However, expected yields exceed 10%, reflecting budgetary pressures and uncertainties linked to oil price volatility.
