Section 25: Approval for grants or loans to a foreign state, etc.

(1) Approvals for grants or loans to a foreign state or any international body or any of its agencies may be granted in accordance with the procedure specified in this Section.
(2) Applications for grants or loans to a foreign state may be submitted by the President to the National Assembly and may be approved subject to such terms and conditions as may be prescribed by a resolution of the National Assembly.
(3) An application specified in Subsection (2) of this Section shall indicate the-
(a) foreign policy objectives underlining the request or proposal;
(b) terms and conditions of the grant or loan;
(c) benefits which Nigeria stands to derive from the grant or loan; and
(d) State of the relations existing between the foreign state or international body and Nigeria at the time of the request or proposal.
(4) The National Assembly shall, by resolution, decide whether or not the grant or loan should be made.