The federal government, on Thursday, said the disbursement of N150 billion loans to micro, small and medium enterprises (MSMEs) and manufacturers would commence by the end of July 2024. The fund dedicates N75 billion to MSMEs and another N75 billion to the manufacturing sector. It also disclosed that 60 per cent of the proposed one million beneficiaries of the Presidential …

Benue State Governor, Rev. Fr. Hyacinth Alia has said, for record purposes, that his administration is yet to borrow a dime since he became governor on 29 May 2023. The governor said he would only do so when it becomes extremely necessary, adding that “for now, prudence in governance must know us and call us by name”. Alia disclosed this …

The Federal Government is poised to receive fresh loan funding from the World Bank, with approval expected for loans totalling $2.25 billion on 13 June 2024. The funding will be received via two major development projects. The first project is the Nigeria Reforms for Economic Stabilization to Enable Transformation Development Policy Financing, which is set to receive $1.5 billion. The …

No fewer than 200,000 small-scale businesses have signified their interest in obtaining credit facilities worth N5 billion from the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN). This follows an agreement signed by the agency in partnership with Sterling Bank to disburse loan options ranging from N250,000 to N2,500,000 at a single-digit interest rate of nine per cent, facilitating …

Oyo State Government on Saturday flagged off the disbursement of student relief loan for about 96 indigenes of Iresa Adu in the Surulere Local Government Area of the state. The first phase of the interest-free loan disbursement was held on Friday, 5 January, at Iresa Adu Town Hall, Iresa Adu, and it was designed for both undergraduate and postgraduate students …

The Office of the Vice President on Tuesday said it would commence the disbursement of loans to Micro Small and Medium-sized Enterprises in collaboration with the Bank of Industry in January 2024. “The loans totaling about N75bn will be given to small businesses nationwide at an interest rate of 9 per cent,” a statement signed by the Senior Special Assistant …

The Federal Government has confirmed that it is in talks with the World Bank for a $1.5 billion budget support loan. The government also said it would release a new Medium-Term Expenditure Framework later this month. The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, made the disclosure on Saturday during a press conference at the …

The World Bank has approved a fresh $700million loan for Nigeria to enhance adolescent girls’ learning and empowerment. It disclosed this in a statement published on its website on Friday. The new loan is to provide additional funds for an ongoing project known as the Adolescent Girls Initiative for Learning and Empowerment. The statement read, “The World Bank approved additional …

The All Progressives Congress (APC) has kicked against Governor Caleb Mutfwang’s request to the Plateau House of Assembly for approval to acquire a N15 billion loan, accusing him of corrupt practices. The Governor’s request was read to the parliament by the Speaker, Rt. Hon. Moses Sule, during Thursday’s plenary, which was the first sitting of the 10th Assembly. Mutfwang said …

Plateau House of Assembly has approved the request by Governor Caleb Mutfwang to acquire a loan of N15 billion to settle the backlog of salary arrears of the state civil servants which amounted to N11 billion. The Speaker, Rt. Hon. Moses Sule, who read the Governor’s request during plenary, said that part of the loan would also be used to …