Tag: Loan Request
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Southern, Middle Belt leaders call on Buhari to rescind decision to request for $800m loan
The Southern and Middle Belt Leaders Forum (SMBLF) has appealed to President Muhammadu Buhari to rescind his decision to request for the approval of $800 million loan from World Bank. Recall that just few days to leaving office, president Buhari wrote to the Senate and House of Representatives to approve the loan request to finance…
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Oyo Assembly approves Makinde’s request to borrow N22.bn
Oyo State House of Assembly has granted the request of Governor Seyi Makinde to borrow N20billion to fix infrastructure in the state. The loan termed contractor financing loan facility is to be sourced from the First Bank of Nigeria PLC. The House also approved the request of the governor to access another N2.5billion Central Bank…
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IMF commences processing of Nigeria’s $3.4bn request
The International Monetary Fund (IMF) has commenced consideration of Nigeria’s request for the release of its contribution with the Fund to enable the country confront the fiscal risks facing arising from outbreak of the COVID-19 pandemic. IMF managing director, Ms Kristalina Georgieva, hinted in a statement yesterday that the Fund was working relentlessly to attend…
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Senate summons nine ministers over Buhari’s $22.7bn loan request
The Senate on Wednesday summoned nine ministers to defend their ministry’s component of the $22.7billion external loan request of the Federal Government. President of the Senate, Ahmad Lawan said the affected ministers must appear before the Senate Committee on Local and Foreign Debt on or before Monday next week. Lawan’s directive followed a complaint by…
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Senate rejects El-Rufai’s $350m World Bank loan request
The Senate on Thursday rejected a request for a $350 million loan from the World Bank by the Kaduna State Government. The rejection followed a presentation of the committee’s report by the Chairman, Shehu Sani (APC, Kaduna Central). Last year, the Kaduna State Government requested the loan for ‘Development Policy Operation’ from the World Bank.…
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Akwa Ibom assembly approves N1.9 bn loan request by executive
The Akwa Ibom House of Assembly has approved a loan request of N1.9 billion to enable the state government pay its counterpart fund for the provision of infrastructure in public schools. This was sequel to Governor Udom Emmanuel’s letter sent to the House and read at plenary on Thursday. After a careful deliberation by members…