News
Buhari govt gets fresh $3bn World Bank loan
Minister of Finance, Mrs Zainab Ahmed, says the Federal Government has secured a $3bn loan from the World Bank.
According to the Finance Minister, the loan is to be used for reforming the nation’s power sector.
Mrs Ahmed announced the approval of the loan at a news conference to wrap up the World Bank/IMF annual meetings in Washington DC on Sunday.
She explained that the loan is expected to improve power supply in the country.
The Minister said the loan would be disbursed in four tranches of $750m each beginning from April 2020.
The loan, according to her, would cover the funding gap as well as the current tariff which investors in the sector had described as very low compared to what is obtainable in other countries.
Her words, “We put a request for financing of the power sector at a range of 1.5 billion dollars to four billion dollars.
“At the end of the day, it looks like we will be looking at a funding size of three billion U.S. dollars that will be provided in four tranches of 750 million dollars each.
“Our plan is that the team will be able to go to the World Bank for the approval of the first tranche in April, 2020,’’ she said.
Sunday Igboho Is A Real Hero, This Is The Powerful Man Who Should Have Been Doing What He Is Currently Doing (Details below)
See The Statement That Shows Sunday Igboho Is Superior To Nigerian Police (Details below)
Young Man Draws Davido With Pen, Ask People to Shares Until Musician Sees it, Photo Causes Stir (Photos below)
Ladies Drool Over James Brown’s New Photos As He Returns To Being A Man (Photos below)
Two Lovers Found Dead in Their Apartment, See What Was Found Beside Them (Video below)
END TIME: Students Practicing Lesbianism… Sucks Each Other Breast (Video below)
Meet the Nigerian Pastors That Have Been Sentenced To Death( No 1 Was A Redeem Pastor)
SHOCKING: After Spending 17- year In Prison, See What This Man Did To The Police Oficers That Arrested Him And Took Away His Wife (Details below)
Crime2 days agoMeet the Nigerian Pastors That Have Been Sentenced To Death( No 1 Was A Redeem Pastor)
Crime19 hours agoThis Lady Met a Guy on Facebook Then Travelled From Lagos to Abuja to Meet Him – See What Happened
News2 days agoEXPOSED: Kemi Olunloyo Finally Speaks On Why Aisha Buhari Left Her Position As Nigeria First Lady (Details below)
Lifestyle2 days ago“When You Die, You’ll Face 2 Judges” – Mad Man Makes Shocking Revelation While Preaching the Gospel (Video below)
