FG says no final decision yet on $5bn loan from Saudi Aramco – Newstrends
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FG says no final decision yet on $5bn loan from Saudi Aramco

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FG says no final decision yet on $5bn loan from Saudi Aramco

The Federal Government, yesterday, said no final decision has been taken on the reported plan to obtain a $5 billion oil-backed loan from Saudi Arabia’s Aramco.

The loan which is said to be part of the $21.5 billion borrowing plan submitted to the National Assembly last month by President Bola Tinubu, was not publicly disclosed.

Reuters reported that negotiations on the facility have been delayed by the low price of oil in the international market.

The government in a statement by the Director, Information and Public Relations, Federal Ministry of Finance, Mohammed Manga, said the government was focused on deploying a variety of options to finance its plans.

The statement reads: “The Federal Government of Nigeria is aware of recent media reports concerning a potential forward sale of crude oil involving the Nigerian National Petroleum Company Limited (NNPC Ltd).

“While market speculation is not uncommon in the context of ongoing economic reforms and transactions, no final decision has been announced by the Government, and commentary suggesting the collapse of any such initiative is unfounded.

“The Government remains focused on deploying a range of innovative, transparent, and fiscally responsible financing strategies to optimise Nigeria’s oil assets, improve external liquidity, and strengthen macroeconomic stability.”

Nigeria has in the past few years obtained about $7 billion loans from Afreximbank ($3.3 billion) and other financial institutions using forward sale of its oil production.

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The Aramco deal, if it goes through, would be Nigeria’s largest oil-backed loan to date and Saudi Arabia’s first participation of this scale in the country, although the decline in oil price could shrink the size of the deal, the sources said.

Two of the sources said President Bola Tinubu first broached the loan in November when he met with Saudi Crown Prince Mohammed bin Salman in Riyadh at the Saudi-African Summit.

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Nigeria, Saudi Arabia Seal New Defence Cooperation Deal to Boost Security

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Nigeria, Saudi Arabia Seal New Defence Cooperation Deal to Boost Security

The Federal Government of Nigeria and the Kingdom of Saudi Arabia have signed a new Memorandum of Understanding (MoU) aimed at strengthening defence and military cooperation between both nations.

According to a statement issued by Ahmed Dan Wudil, Special Assistant on Media to the Minister of State for Defence, the agreement establishes a framework for strategic collaboration in key areas including military training, intelligence sharing, defence production, joint operations, and broader security development initiatives.

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The pact was signed on behalf of Nigeria by the Minister of State for Defence, Dr. Mohammed Bello Matawalle, while Dr. Khaleed H. Al-Biyari represented the Government of Saudi Arabia.

The statement described the MoU as a major milestone in strengthening Nigeria–Saudi Arabia defence relations, enhancing cooperation on emerging threats, and improving collective capacity to manage evolving security challenges.

The Defence Ministry expressed optimism that the partnership will support existing efforts to combat insecurity across parts of the country. It added that the collaboration underscores Nigeria’s commitment to building strong international alliances in pursuit of national and regional stability.

Nigeria, Saudi Arabia Seal New Defence Cooperation Deal to Boost Security

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BREAKING: Senate Approves Tinubu’s Request to Deploy Nigerian Troops to Benin

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Senate plenary

BREAKING: Senate Approves Tinubu’s Request to Deploy Nigerian Troops to Benin

The Nigerian Senate has granted President Bola Tinubu approval to deploy Nigerian troops to the Republic of Benin as part of a regional peacekeeping mission aimed at stabilising the neighbouring country after a recent failed coup attempt.

The Senate said the decision was necessary to safeguard democracy in Benin and prevent a potential influx of refugees through the Nigeria–Benin border should instability escalate.

President Tinubu’s request, contained in a letter dated 8 December 2025, was read during Tuesday’s plenary by Senate President Godswill Akpabio. The President hinged the deployment request on Section 5(5) of the Nigerian Constitution, which empowers him to seek legislative approval for external military engagement.

When Akpabio subjected the motion to a voice vote, senators unanimously endorsed the request, giving the President full backing to proceed with the mission.

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Akpabio explained that the deployment was made at the formal request of the Benin Republic government, which sought Nigeria’s assistance in restoring stability following a brief takeover attempt by renegade soldiers.

The crisis erupted on Sunday when a group of soldiers announced that they had overthrown President Patrice Talon’s democratically elected government. The coup was swiftly neutralised by Beninese authorities, with the soldiers arrested within hours of their broadcast.

In response to the attempted takeover, President Tinubu had earlier deployed Nigerian military fighter jets in support of Benin’s loyalist forces, helping to secure critical national assets and reinforce regional defence obligations.

The Senate’s approval now provides constitutional backing for the continuation of Nigeria’s military involvement in Benin, marking a significant step in West Africa’s ongoing efforts to counter unconstitutional changes of government.

BREAKING: Senate Approves Tinubu’s Request to Deploy Nigerian Troops to Benin

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BREAKING: Tinubu Seeks Senate Approval to Deploy Nigerian Troops After Benin Coup Attempt

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President Bola Ahmed Tinubu

BREAKING: Tinubu Seeks Senate Approval to Deploy Nigerian Troops After Benin Coup Attempt

President Bola Ahmed Tinubu has formally requested the approval of the Nigerian Senate to deploy Nigerian troops to the Republic of Benin following the recent failed coup attempt in the neighbouring country.

The request, conveyed in a letter read by Senate President Godswill Akpabio during Tuesday’s plenary, was made pursuant to Section 5(5) of the 1999 Constitution (as amended), which mandates Senate consent for external combat deployment. Tinubu said the move followed an official plea from the Beninese government after its security apparatus came under threat.

According to the President, the deployment aligns with Nigeria’s longstanding “ties of friendship and brotherhood” with Benin and reflects the nation’s commitment to regional peacekeeping, stability, and democratic governance in West Africa.

Coup Attempt in Benin and Nigeria’s Response

The crisis erupted when soldiers under the banner of the Military Committee for Refoundation, led by Lt. Col. Pascal Tigri, seized the state television station in Cotonou and announced the overthrow of President Patrice Talon. They declared the dissolution of state institutions and closure of borders.

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In response to a direct request from Benin, Nigeria swiftly deployed fighter jets and ground forces to assist loyalist troops in retaking key installations. The intervention, supported by the ECOWAS Standby Force, helped dislodge the mutineers and restore constitutional order.

Benin’s government later confirmed that the coup attempt had been foiled, with several of the plotters fleeing. The incident occurred as the country prepares for its April 2026 presidential election, sparking renewed concerns about political stability across the sub-region.

Senate Debate and Regional Implications

Tinubu’s request has stirred debate among legal analysts and political commentators. While supporters argue that the President acted within constitutional limits due to the urgency of the situation, critics question whether deploying troops abroad without prior approval is permissible under Nigerian law.

The unfolding situation carries significant implications for ECOWAS security, Nigeria’s leadership role in West Africa, and future responses to rising instability across the region. With multiple coups in neighbouring nations in recent years, the swift action in Benin is seen as a renewed effort to deter unconstitutional power grabs.

The Senate is expected to formally deliberate on the President’s request within the constitutionally required timeframe.

BREAKING: Tinubu Seeks Senate Approval to Deploy Nigerian Troops After Benin Coup Attempt

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