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 …

The Senate has indicted the Office of Accountant General of the Federation (AGF) over failure to repay short-term loans given to Ministries, Departments, and Agencies (MDAs) from Special Funds Accounts totalling N910 billion. The lawmakers discovered this after an investigation by the Senate Public Accounts Committee, chaired by Senator Mathew Urhoghide, following the submission of the 2017 Auditor General report. …

The House of Representatives on Thursday approved an additional N1 trillion in Ways and Means advances for the implementation of the 2022 Supplementary Appropriation Act as passed by the Nation Assembly. The Ways and Means provision allows the government to take loans from the Central Bank of Nigeria (CBN). This followed the consideration of the report of the House Committees …