The Washington-based World Bank has disbursed Nigeria a $1.5 billion foreign loan as part of the federal government’s effort to implement fuel subsidy removal and tax reforms. This is according to the World Bank’s recent document on the loan’s progress. The document showed that the loan was approved on June 13, 2024, with the first…
The World Bank has announced the removal of several loan fees to make borrowing more affordable for vulnerable countries. The move, according to the World Bank, is part of broader efforts to expand financial capacity and address urgent global challenges, including climate change, inequality, and economic fragility. The World Bank said on its official X…
The World Bank has announced nearly $24 billion in loans and grants for some of the world’s poorest nations, which it can leverage to generate a record $100 billion in total spending power. In a statement released on Thursday, World Bank Group President Ajay Banga announced that donor countries have pledged $23.7 billion to replenish…
The Senate has granted approval to the ₦1.77 trillion ($2.2b) loan request of President Bola Tinubu . The Senate presided by Deputy Senate President, Barau Jibrin, approved the loan after the Senate Committee on Local and Foreign Debts chaired by Senator Wammako Magatarkada (APC, Sokoto North) presented the report of the committee. The request which…
