After more than a year with the emergence of current administration of President Muhammadu Buhari, Nigerians are getting impatient and complaining that the change mantra is not translating into food on the table. Going by current realities, the Nigerian economy does not only require...
Finance Minister, Mrs. Kemi Adeosun gave some insight on the Federal Government’s borrowing plans and how it intends to spend the $29.960 billion foreign loans to address infrastructure deficit in the country.
Speaking through her Special Assistant, Media, Festus Akanbi, Adeosun said the external borrowing...
The Federal Government has appealed to the African Development Bank to fast-track the $1bn loan facility it promised as support for the implementation of Nigeria’s 2016 budget.
According to the government, the loan is expected to cover the 35 per cent shortfall in the budget.
The...
As President of the African Development Bank (AfDB), Dr Akinwumi Adesina arrives Nigeria today to hold talks with President Muhammadu Buhari and other key government officials over the country’s economic challenges, the bank said it has committed $524,969 million worth of loans to Nigeria,...
…says Nigeria on a long, difficult journey
President Muhammadu Buhari said that the Federal Government will invest substantial part of its foreign and local loans into the development of critical infrastructure.
The president said borrowed funds will be judiciously utilised to revive stalled road, rail, power...
