By Yusuf Danjuma Yunusa

The Senate on Tuesday approved President Bola Tinubu’s request to secure $6 billion in external loans, granting legislative backing for the facilities hours after the Executive formally sought approval to finance critical infrastructure and address fiscal gaps.

The approval followed the consideration of a report submitted by the Chairman of the Senate Committee on Local and Foreign Debts, Senator Aliyu Wamakko (APC, Sokoto North).

In a letter read during plenary, President Tinubu sought approval for two separate facilities: a $5 billion loan from Abu Dhabi Bank to support budget deficit financing and meet existing debt obligations, and a $1 billion loan from UK Export Finance through Citibank London to fund the rehabilitation of the Lagos Port Complex and Tin Can Island Port.

According to the President, the port rehabilitation projects aim to address longstanding operational challenges, improve efficiency, enhance safety standards, support non-oil trade diversification, and position Nigeria as a regional trade hub.

Senate President Godswill Akpabio referred the requests to the committee for expedited consideration, a directive that culminated in Tuesday’s approval.

The latest borrowing comes amid the Federal Government’s sustained reliance on domestic and external loans to finance budget deficits. Four months ago, the National Assembly approved a separate request to raise N1.15 trillion from the domestic debt market to fund the 2025 budget deficit.

In its report, the Senate Committee on Local and Foreign Debts noted that the 2025 Appropriation Act provides for total expenditure of N59.99 trillion—an increase of N5.25 trillion from the Executive’s initial proposal—highlighting the widening fiscal gap driving the government’s borrowing strategy.

By Yusuf Danjuma Yunusa

The Federal High Court in Kaduna has adjourned the bail hearing for former Governor Nasir El-Rufai until Wednesday, March 31. Justice Rilwanu scheduled the new date after hearing arguments from both the defense and prosecution.

El-Rufai was arraigned by the Independent Corrupt Practices and Other Related Offences Commission (ICPC) on a 10-count charge involving the alleged conversion of public property and money laundering. The former governor pleaded not guilty to all charges.

In a separate case, El-Rufai also appeared before a Kaduna State High Court on charges of abuse of office, fraud, and intent to commit fraud. The ICPC filed charge number KDH/KAD/ICPC/01/26 against him and one other defendant, Amadu Sule, from the Kaduna State Development Agency (LEDA).

According to the News Agency of Nigeria, El-Rufai arrived at the Federal High Court premises at approximately 9:40 a.m. in the company of ICPC officers.

Security was heightened across the Kaduna metropolis ahead of the proceedings. Armed personnel from the police, the Department of State Services (DSS), and the Kaduna State Vigilance Service were deployed to strategic locations. Access to the court was restricted to accredited journalists and court officials, though media representatives were barred from entering the courtroom to cover the proceedings.

Counsel for El-Rufai, Abdul Adamu, declined to comment after the session, stating only that the case “has been adjourned till tomorrow.”

By Yusuf Danjuma Yunusa

The ICPC and DSS operatives, after the court session on Tuesday, 31 March, have taken Mallam Nasir El-Rufai with them to Abuja, a move which has raised questions about the status of his administrative bail.

The journey to Abuja followed his appearance at the Federal High Court, Kaduna, which was scheduled to hear his application for bail. The court adjourned to tomorrow, 1 April 2026, after the prosecution said it had just filed its counter affidavit.

He had been released on administrative bail on Friday following the death of his mother. Sources say that he was granted bail for 14 days. He hosted the fidau prayers for his mother yesterday in Abuja before proceeding to Kaduna for today’s court sessions. The latest development indicates that the bail has been revoked.

Mallam El-Rufai has first appeared this morning at the Kaduna State High Court. The absence of the second defendant stalled the hearing which was then adjourned to 10 April 2026.