Nigeria has secured a $200 million loan from the African Development Bank Group to scale up agricultural productivity, in a major push to strengthen food security, cut imports and expand climate-smart farming. The facility, approved by the Bank’s Board of Directors, will fund the second phase of the Federal Government’s National Agricultural Growth Scheme–Agro-Pocket (NAGS-AP), […]
The Federal Government has said Nigeria’s N152 trillion public debt reflects improved fiscal transparency and foreign exchange revaluation, rather than a sharp increase in new borrowing. The explanation was given by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, at the launch of the Nigerian Economic Summit Group (NESG) 2026 […]
Following a mild amendment to the Student Loan Scheme, the Federal Government has effectively commenced the programme. As of the time of filing this brief report, the President, Bola Tinubu is currently inaugurating a presidential committee to drive the Scheme at the State House, Abuja. To kick start the programme, the President had recently approved […]
BY ADA DIKE As this administration marks one year in office in a matter of days, one laudable feat that will go down in history is the student loan scheme, which is expected to grant access to children of the poor to acquire higher education. This scheme which has been signed into law will interestingly […]
…says funds required, will be drawn from FG revenue By Tom Okpe Chairman, House Committee on Student’s Loan, Rep Gboyega Isiaka has assured Nigerians of the present administration’s resolve towards ensuring adequate funding of Student’s Loan for the benefits of Nigerians, studying in public owned Tertiary Institutions across the country. He gave the assurance during […]
Ranks 4th on World Bank borrowers’ list Despite Nigeria’s huge debt burden, the Federal Government (FG) over the weekend disclosed that it had concluded plans to secure a fresh $1.5 billion loan facility from the World Bank. This is even as Nigeria currently sits in fourth position on the World Bank’s top 10 International Development […]
…say loan illegal, want Tinubu to order NNPCL forensic audit The African Centre for Justice and Human Rights (ACJHR) and Justice Advocate Center (JAC) have commenced moves to put a stop to the $3 billion emergency loan recently secured on papers by the Nigeria National Petroleum Company Ltd (NNPCL) from the African Export-Import Bank (Afrexim) […]
…New bank coming …Tinubu hands September deadline By Doosuur Iwambe A fresh financial institution, the Higher Education Nigerian Bank, is to come on stream soon to anchor Federal Government’s students’ loan scheme. President Bola Tinubu,on Democracy Day,June 12 (last Monday) signed into law the bill establishing the scheme. His action came even as the Academic […]
Nigeria’s request for a $1.5 billion loan from the World Bank has been approved. On Tuesday, in a statement, the Bretton Wood institution said the facility is a five-year country partnership framework (CPF) that will last from 2021 to 2024. Daily Times reports that the bank said the facility was prepared jointly with the International […]
By Philip Clement The Federal Government is processing a $750 million loan from the World Bank on behalf of the 36 states and Federal Capital Territory (FCT), minister of Finance, Budget and National Planning, Zainab Ahmed, has said. According to her, the loan is meant to stimulate the economy and support vulnerable households. She made […]
By Taiye Elebiyo-Edeni Nigerian transportation industry which comprises aviation, land (road and rail) and maritime subsectors has faced challenges of infrastructure deficit since independence and successive administrations have taken steps to address these challenges. Since assuming office on May 29, 2015, President Muhammadu Buhari has taken giant strides to address these challenges across the transport […]
Rotimi Amaechi, minister of transportation, says former President Goodluck Jonathan also collected loan from China. Recently, a house of representatives panel expressed concern about a clause conceding Nigeria’s sovereignty to China in a loan agreement. READ ALSO: ‘I didn’t join politics to solve Nigeria’s problems’ – Rotimi Amaechi The clause, described as “lethal” by the […]
Second-placed Inter Milan were held to a third successive 1-1 draw on Sunday in their Serie A match against Cagliari. But their misery came from within somehow, after Radja Nainggolan, a player they loaned to Cagliari for this season, scored a second-half equaliser for the Sardinian side. READ ALSO: How Manchester City spank Fulham 4-0 […]
The ministries of Power, Works and Housing and Water Resources will take the largest share if eventually Nigeria secures the $30bn loan it intends to get from different multilateral organisations. According to a statement by Ajuri Ngelale, President Muhammadu Buhari’s special assistant on Public Affairs, shows that the planned projects spreads across different sectors of […]
Plateau State Government has said that it has been able to reduce the debt it met by over 50 per cent Commissioner for Information and Communicatis, Mr. Yakubu Dati, in a statement also denied that the state procured a loan of $2 billion. Dati, who was reacting to the recent allegations by the Minister of […]
As part of effort to assist workers to build their own houses, the Federal Mortgage Bank of Nigeria (FMBN) says it has disbursed more than N7 billion loan to 800 beneficiaries in 2017. Its Managing Director, Ahmed Dangiwa, disclosed this at the FMBN 2017 Management Retreat in Abuja, with the theme Towards Improving FMBN Transaction […]
Sunday Nwakanma – Umuahia The Federal government in partnership with Abia State Government and Bank of Industry, BoI Friday, disbursed a total of N380 million to 7000 beneficiaries in Abia State through the Government Enterprises & Empowerment Programme, GEEP. However, some beneficiaries were disappointed when they did not receive their own bank alert as others […]
Zenith Bank says it has made a provision of 30 percent on its loan to 9mobile, the country’s fourth largest telecoms company. “We have taken about 30 percent … as a provision which we believe is very prudent as the company is undergoing restructuring to prepare for a new investor,” the bank’s Chief Executive Officer, […]
The federal government has announced plans to secure a $2 billion loan from the World Bank and the African Development Bank (AfDB) in a bid to aid the implementation of its policies and programmes for the year. The federal government made its plans known during an interactive session with journalists in Abuja organised by the […]