The Federal Government will seek to borrow $25.46bn from multilateral and bilateral development agencies, including the World Bank and the Islamic Development, between now and 2018. Other agencies the Federal Government will resort to for funds to complement the dwindling resources from oil and gas...

Plans by the Federal Government to borrow billions of dollars from the World Bank to plug its budget deficit have run into delays as the international lender is demanding for further reforms from the government as a condition for any loan. This came barely one...

The African Development Bank is working on giving Nigeria loan facilities of $4.1bn between now and next year for critical sectors of the economy. The loans include $1bn at a concessionary interest rate of 1.2 per cent for Nigeria to address the 2016 budget deficit...

The President, African Development Bank, Mr. Akinwumi Adesina, says huge capital is available in Africa. Adesina, therefore, urged the continent’s governments to boost tax revenue and steer clear of international borrowing as the region grappled with its worst economic slump in more than a decade. Adesina...

The Federal Government is set to borrow $1bn from the international capital market to fund its expansionary budget and stimulate economic growth as inflation, slow growth and other challenges continue to hit the economy. Consequently, the Debt Management Office is seeking two lead managers and...

Abia state government is inching closer to sealing a deal with the African Development Bank (AfDB) for a $200 million loan facility to be used for the rehabilitation of infrastructure, especially in the commercial city of Aba. It emerged that the deal was in the...