Tag: Loan
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SERAP writes Buhari, seeks details of $5.513 billion loan spending
Socio-Economic Rights and Accountability Project (SERAP) has sent a Freedom of Information request to President Muhammadu Buhari requesting him to use his “leadership position and the opportunity of the 5th anniversary of your government in office to provide spending details of all loans obtained by the government since May 29, 2015, including details and locations…
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Buhari seeks Senate approval for fresh $5.513bn loans
President Muhammadu Buhari’s request for fresh external loans totalling $5.513billion was read on the floor of the Senate Thursday by the Senate President, Ahmad Lawan. President Buhari in the request via a well detailed letter forwarded to that effect , said it became imperative for funding the revised 2020 budget and insulating the nation’s economy…
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IMF officially disburses $3.4bn loan to Nigeria
The International Monetary Fund (IMF) has officially disbursed the $3.4bn emergency financial assistance to Nigeria, IMF Managing Director, Kristalina Georgieva has said. TheNewsGuru.com (TNG) reports the IMF chief made this known on Tuesday in an interview with CNBC Africa as the Coronavirus disease (COVID-19) continues to take tolls across the country. “Nigeria has been hit…
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BREAKING: IMF approves N1.325 trillion for Nigeria, largest COVID-19 emergency financial assistance given to date
The Executive Board of the International Monetary Fund (IMF) has approved the Rapid Financing Instrument (RFI) of $3.4bn, approximately N1.325 trillion for Nigeria. TheNewsGuru.com (TNG) reports the IMF Executive Board approved the N1.325 trillion loan on Tuesday, being the largest Coronavirus disease (COVID-19) emergency financial assistance given to date. Details shortly…
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BREAKING: Senate approves Buhari’s request for N850bn loan
The Senate has approved President Muhammadu Buhari’s request for N850 billion loan from the Capital Market to finance projects in the 2020 budget. The senate at plenary on Tuesday, gave accelerated approval to the request for the loan. It further mandated its Committees on Finance and Appropriation to liaise with the Minister of Finance, Mrs…
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Covid-19 loan: Nigerian business mogul, Ozigbo gives N100m personal guarantee to small businesses
Nigerian Business Mogul and Philanthropist, Valentine Ozigbo has announced a N100 million personal guarantee to small businesses who wish to access the Central Bank of Nigeira’s COVID-19 N50 billion intervention loan. In a video statement shared on his Facebook, Instagram, and Twitter accounts on Friday, April 17, 2020, Mr. Ozigbo noted the devasting effect of…
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Nigeria seeks fresh $3.5b loan from IMF, AfDB amidst COVID-19 pandemic
Nigeria’s finance minister Zainab Ahmed said the country has applied to the International Monetary Fund (IMF) and African Development Bank (AfDB) to access $3.5 billion in concessional funding to support the 2020 Budget. Ahmed disclosed this on Monday during a news conference in Abuja. She outlined the fiscal stimulus measures that the government is implementing…
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Senate approves Buhari’s $22.7bn loan request rejected by Saraki-led NASS
The Nigerian Senate has approved President Muhammadu Buhari’s request to borrow $22.7 billion- a request which was rejected by the 8th Senate under the leadership of Bukola Saraki. The president had sent the same request to the eight Senate in 2016. He had requested about $30 billion but the then lawmakers rejected the request as…
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Nigeria debts soar to almost $80bn as World Bank approves fresh $2.2bn loan
Nigeria’s debt has risen to $80bn as World bank on Tuesday approved nearly $2.2bn loan for the country to invest in six projects, including improving immunization, enabling a stronger business environment for the private sector, expanding the digital economy to promote job creation, and increasing public and private sector capacity on governance and social and…
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Tambuwal gets N65.7b loan to buy cars, fertilizer, fund hajj
Governor Aminu Tambuwal’s Sokoto state government said it would secure N65.7 billion loan to finance agricultural programmes, housing, water supply and enhance judicial administration in the state. On the shopping list are cars for judiciary, fertiliser for farmers, water and housing projects. The Secretary to the state government, Alhaji Saidu Umar disclosed this while addressing…