The World Bank has scheduled December 16 as the tentative approval date for Nigeria’s request for a new $1 billion Development Policy Financing (DPF) facility under a fresh initiative titled “Nigeria Actions for Investment and Jobs Acceleration (P512892).” According to a project document published by the Bank on October 27, the proposed package comprises a…
The National Assembly on Wednesday approved President Bola Ahmed Tinubu’s request to secure a total of $2.347 billion from the international capital market to part-finance the 2025 budget deficit and refinance maturing Eurobonds. Lawmakers also granted approval for the President’s plan to issue a $500 million debut sovereign sukuk in the international capital market to…
The Senate will approve the $2.2bn (about N1.77tn) loan request of President Bola Tinubu today (Wednesday). This request, submitted by the President, is part of the external borrowing plan outlined for implementing the N28.7tn 2024 budget. In separate letters read during the Senate and House of Representatives plenary on Tuesday, Tinubu explained that the loan…
