The Senate has approved President Bola Tinubu's loan request of $2.2 billion.

The Senate gave the approval on Thursday, November 21, following the review of a report presented by the Chairman of the Committee on Local and Foreign Debt, Aliyu Wamakko.

The amount approved translates to ₦1.7 trillion at an exchange rate of N800 per dollar, and is expected to cover the N9.1 trillion shortfall in the 2024 budget.