FG Seeks $4.4bn Fresh Loans as National Debt Rises N101tn The Federal government has pushed for fresh loans approval worth $4.4bn from the World Bank and Africa Development Bank over the next one year. Nigeria borrowed a total of $4.95bn in loans from the international lender...

W'Bank: FG Requests 18-month Extension for $800m Palliative Scheme  The Federal Government has requested that World Bank extend the disbursement period for the $800 million palliative loan by 18 months, from June 30, 2024, to December 31, 2025. About three million poor and vulnerable households have...

The federal government has requested an 18-month extension on the closing date of the World Bank’s $800 million palliative loan in a strategic move to bolster its social safety net programs amidst rising inflation and economic challenges.   

$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...

Nigeria Secures $2.25bn World Bank Loan The World Bank has approved a total of $2.25 billion for Nigeria to support the Federal Government’s efforts to stabilize the economy. The international lender announced the approval of two significant financial operations aimed at bolstering Nigeria’s economic stability and...

W'Bank to CBN: Interest Rate Hike may not Lower Inflation The World Bank has stated that monetary policy tightening by the Central Bank of Nigeria (CBN) may not rein in inflation and remains a risk to Nigeria’s growth outlook. The international lender disclosed this in its...