NNPCL Secures $3bn Loan 

The Nigerian National Petroleum Company (NNPC) Limited has secured a $3 billion Emergency Crude Repayment Loan from African Export-Import Bank (AFREXIM) Bank. In a short statement disclosing the deal, the NNPC said the commitment letter, which was signed at AFREXIM Bank’s headquarters in Cairo, Egypt on Wednesday, will enable it to support the Federal Government […]

$800m Loan To Nigeria Was Approved December 2021 – World Bank

The World Bank has clarified that the 800 million dollar loan from the bank was approved as of December 2021, a time when the government of Muhammadu Buhari contemplated the removal of fuel subsidy. Its Nigerian Country Director, Dr Shubham Chaudhuri, made this known on Tuesday at an event organised by the World Bank to […]

Ndume Vows To Challenge Buhari’s $800m Loan In Court

The senator representing Borno South Senatorial District, Ali Ndume, has vowed to challenge the $800 million loan sought by President Muhammadu Buhari’s administration. The President had sought Senate approval for $800 million loan to finance the National Social Safety Network Programme. According to the President, the loan from the World Bank is aimed at providing […]