Plans to borrow $22.7bn suspended – FG

The Minister of Finance, Mrs. Zainab Ahmed, yesterday, disclosed that the Federal Government has suspended its $22.7 billion external borrowing plans due to current realities in the global economic landscape driven by the fall-outs of the Coronavirus (COVID-19) pandemic. Speaking in Abuja, at the 2020 International Conference on the Nigerian Commodities Market, organized by the Securities and Exchange Commission, SEC, Ahmed stated that the government would not go ahead with the borrowing programme even if it secures the approval of the National Assembly. The Finance Minister explained that the decision of the government to suspend the borrowing was due to

By |March 17th, 2020|Categories: News|Tags: , |0 Comments

Again, FG Requests For Another $1bn Chinese Loan

The Federal Executive Council has approved another $1billion Chinese loan. It will be sourced from the China-EXIM Bank for the Gurara II Hydropower project. The power project is planned to generate 360 megawatts of electricity. The Minister of Water Resources, Mr Sulieman Adamu, has just confirmed the approval of the loan by FEC. President Muhammadu Buhari presided over the FEC meeting at the Presidential Villa, Abuja.

By |May 16th, 2019|Categories: News|Tags: , , |0 Comments
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