On Wednesday 29 October last year, Parliament Nigerian approved President Bola Tinubu's request to borrow $2.85 billion in international markets, including very first issue of a sovereign sukuk by the country.

President Tinubu had requested in early June, Parliament's authorization to contract new international loans, in particular via the inaugural issue of a sukuk sovereign worth 500 million dollars. To believe the President, these new funds will be used to partially finance the deficit budgetary and to refinance Eurobonds expiring in November. He has specified that the operation could be carried out on the Eurobond market, via loan syndication, bridge financing provided by managers of books or directly from international banks.