Finance
World Bank approves $1.08bn loan for Nigeria
The World Bank said on Wednesday it had approved a total of $1.08 billion in concessional financing for Nigeria to enhance education quality, build household and community resilience, and improve nutrition for underserved groups.
The loan, initially designed to respond to the COVID-19 pandemic, is intended to help strengthen the bank’s extensive reach and impact in Nigeria in the face of economic hardships, especially following the government’s economic reforms in 2023, the World Bank said.
The bank said $500 million would go towards an economic stimulus program with another $500 million for education, and the balance would be used to boost standards of nutrition in Nigeria.
-
Oil and Gas11 hours agoPetrol pump price to fall below N740 per litre before Christmas as Dangote alleges sleaze at NMDPRA, demands investigation, prosecution of Farouk Ahmed
-
Economy6 hours agoNigeria’s headline inflation rate decline to 14.45% y/y–NBS
-
News6 hours agoSpread between official, unofficial foreign exchange markets dropped by N30.59US$/1—Coronation
-
Oil and Gas1 day agoNigeria issues permits for gas-flaring project, targets $2bn investment and 3 GW power potential
-
News1 day agoExplore alternative management, concession models for TCN to improve efficiency, investment–CPPE to FG
-
News1 day agoAfreximbank breaks ground on its trade centre, new headquarters in Egypt’s new capital
-
Finance6 hours agoBitcoin value drops to $88k over Bank of Japan central bank rate cut anticipation
-
Stock Market1 day agoInvestors rake in N1.54 last week, gained N946bn on Friday