News Top Stories

Nigeria edges closer to securing $3bn World Bank facility

Nigeria is close to securing a total of $3 billion as loan from the World Bank, the Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, has said. The Minister, who disclosed this during a Citi Bank Investor update call with the Nigerian government yesterday, stated that negotiations with the World Bank “is on course” for a $1.5 billion facility for the Federal Government and another $1-1.5 billion for state governments.”

Ahmed was quoted by Nairametrics as saying that: “World Bank negotiation is on course and we are looking at the World Bank going to the board on 6th of August for Nigeria’s approval. They have met largely all the conditions for the facility. “The amount we are raising in the first instance is $1.5 billion for FG and around September, October we are hoping to close out on the facility meant for states and the amount is meant to be $1-1.5 billion.”

The National Assembly had, a few weeks ago, approved President Muhammadu Buhari’s $5.51 billion loan request, which the President said would enable his government to fund the revised 2020 budget. Specifically, the government said it plans to borrow $3.4 billion from the International Monetary Fund (IMF), $1.5 billion from the World Bank to fund the budget deficit, $500 million from the African Development Bank (AfDB) to be partly utilised for the COVID- 19 crisis response budget as well as funding the 2020 budget deficit and $113 million from the Islamic Development Bank to also partfinance the budget deficit. The IMF approved and disbursed $3.4 billion facility to Nigeria in April. According to the Debt Management Office (DMO), Nigeria’s total debt stock (made up of foreign and domestic) as of December 2019, stood at N27.4 trillion.




Abuja Civil Servant reveals (FREE) secret Fruits that Increased his Manh0d size, gives Stronger Erections and ends Premature Erection in 7days...




%d bloggers like this:
Fake Richard Mille Replica Watches, The ceramic upper and lower cases are imported from Taiwan and are processed by ATPT ceramics to form Y-TZP ceramics. After high-tech anti-fingerprint technology, they present a delicate and soft sub-black material. This color quality has remained unchanged for a hundred years. The color and luster are more detailed to achieve the ceramic tone visual pattern electroplating upper and lower shells that are infinitely close to the original products, with anti-reflective coating sapphire glass! The tape uses a soft and delicate Malaysian imported top rubber strap, and the movement is equipped with an imported Seiko NH movement. The buckle of this version is made according to the original size and thinness, making it feel more comfortable and intimate, the highest version on the market Richard Mille Replica