In order to finance the fiscal year 2024 deficit, the Nigerian Federal Executive Council (FEC) approved an external borrowing program of 2.2 billionThis program includes the issuance of a 1.7 billion dollars eurobond and a 500 million sukuk, to finance the 2024 budget.

The two loans should mark Nigeria's return to the international capital market, and will be used to finance the fiscal deficit in fiscal year 2024. At a press conference, Nigerian Finance Minister Wale Edun said that “the program includes the issuance of 1.7 billion dollars in eurobonds and Islamic bonds (sukuk) in an additional amount of 500 million dollars.” According to him, Nigeria's access to the international capital market is a sign of support for the reforms implemented by the administration of President Bola Tinubu