News
Again, FG seeks $50m World Bank loan
The FG of Nigeria has sought the assistance of the World Bank to provide funding worth $50 million to support state governments for the installation of solar plant pilots and infrastructure upgrades.
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun spoke on the initiative when he met with a World Bank delegate on Monday in Abuja.
The team was led by the Country Director for Nigeria, Dr. Ndiamé Diop while the Special Adviser to the President on Energy, Ms. Olu Verheijen was in attendance.
ALSO READ: FG secures fresh $2.25 billion loan from World Bank
A statement signed by the Director of Information and Public Relations, Finance Ministry, Mohammed Manga, said the meeting was held to discuss innovative ways to drive Nigeria’s power sector forward.
The minister said that the meeting focused on World Bank-supported initiatives, including the Power Sector Recovery Operation and the Distribution Sector Recovery Programme, aimed at improving power distribution and management systems to ensure economic growth and development in the nation.
-
Business1 week agoNigeria: Whither the fruits of 2026 crude oil windfall?
-
Comments and Issues1 week agoThe “Onuku” Called Kenneth Okonkwo
-
Business6 days agoNigeria’s foreign debt climbs 22% to $51.86bn under Tinubu administration
-
Business7 days agoTrump-Xi summit sparks fresh questions for Nigeria’s economy, tech sector
-
Business6 days agoDangote Refinery sues FG over petrol import licences in downstream market showdown
-
Energy7 days agoRising global oil tensions raise fresh fears over Nigeria’s fuel prices
-
Business4 days agoAnalysts hail equities rally as over 30 NGX stocks beat inflation in April
-
Business4 days agoSterling Holdings FY2025 profit soars by 89% despite rising credit losses