'Dangote Refinery Received $1bn Loan from NNPCL'   The Nigerian National Petroleum Company Limited (NNPCL) has said it secured a $1bn loan backed by crude oil to support the coming on stream of the 650,000 barrels per day capacity Dangote Petroleum Refinery. It also stated that the...

Nigeria's Total Debt May Hit N170trn as FG Plans to Borrow Fresh N31trn   The Federal Government plans to allocate a significant portion of its budget to debt servicing over the next three years, surpassing allocations for capital expenditures. This is according to the recently approved 2025-2027...

The International Monetary Fund (IMF) has disclosed that the Nigerian federal government has not requested a loan. 

World Bank Okays Fresh N2.4trn Loan For Nigeria   The World Bank has announced the approval of $1.57 billion ( N2.4 trillion at N1601 to a dollar) to boost human capital in Nigeria through better health for women, children and adolescents. According to a statement by the...

$2.25b World Bank Loan Offers Hope for Economic Recovery The Federal Government of Nigeria has secured $2.25 billion in funding from the World Bank, comprising two key financial operations aimed at economic stabilisation and support for vulnerable populations. Key details of the facility include a 40-year...

Jim Ovia to Chair Tinubu’s Education Loan Fund   President Bola Tinubu has approved the appointment of Mr. Jim Ovia, CFR, renowned banker and businessman, as the Chairman of the Board of the Nigerian Education Loan Fund (NELFUND). Mr. Ovia is the founder of one of Nigeria's...