December 23, 2024
Headlines

Loan

$500M W’Bank loan to benefit 25 states

rebecca06 mins

The newly approved $500 million World Bank loan will benefit at least 25 state governments, and it aims to improve water resource management for hydropower and irrigation. On Tuesday, the Federal Government, through the Ministry of Water Resources and Sanitation and the Ministry of Power, signed a Memorandum of Understanding with the World Bank to…

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Nigeria to experience ‘currency shocks’ due to Tinubu’s loan spree: LCCI

Grace04 mins

  The Lagos Chamber of Commerce and Industry has expressed concerns over the Federal Government’s plan to borrow $2.2 billion, warning of potential debt sustainability issues and impacts on infrastructure. In a statement on Friday, the chamber said there was a need to diversify funding sources beyond debt financing. Its director-general, Chinyere Almona, said the…

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