FG Approved plans for external loans from the World Bank, China and Japan.

We wish to inform you that the Nigeria Federal Government has approved plans for external loans from the World Bank, China and Japan.

FG Approved plans for external loans

FG Approved plans for external loans

According to Punch report, It specifically said Nigeria would take loans from institutions such as Japan International Cooperation Agency, World Bank, African Development Bank, and Export-Import Bank of China, As Bloomberg reported on Thursday.

READ  Top 5 Football academies in Nigeria
The Word Of God
The heart of men is full of evil and entitled to destruction, except for those whose heart is for God. Check your ways now.

The Nigeria President Muhammadu Buhari had announced a N6.1tn ($19.4bn) spending plan aimed at stimulating the economy this year. The economy contracted in the first two quarters as oil revenue plunged.

Further more, Buhari stated that he has expected the Federal Government to raise about $5bn from the Eurobond market and multilateral and bilateral lenders.

READ  Thugs Beat Ekiti NULGE Chairman Up Over The Strike Issues

The Debt Management Office had last month asked banks to place bids by September 19 if they wished to manage a $1bn Eurobond sale.

We learned that Nigeria had issued dollar bonds twice, the last time in 2013. Yields on its $500m of securities due in July 2023 fell 11 basis points to 6.24 per cent, their lowest level since June 2015 and down more than 300 basis points since hitting a record 9.4 per cent on January 18, according to Bloomberg report.

READ  AGF Forwarded Names of Judges to DSS for Probe

This information is brought to you by informationhood

The Author


Bringing you the right informations. Touching every corner, exposing the true facts. Yes! It's Information Hood leaving nothing untouch. (Your loyal Serome)

Leave a Reply

Your email address will not be published. Required fields are marked *

Information Hood © 2016 - 2018 Follow us on Facebook