The Federal Government is seeking a fresh $500m loan from the World Bank to establish an infrastructure financing platform designed to attract private investment into critical sectors of the Nigerian economy, a project document obtained exclusively by The PUNCH has revealed.
Understanding the reason for a refusal helps you decide what to do next. An incorrectly recorded debt needs correcting. A loan repayment you cannot comfortably afford requires a different response.
Nigeria’s tertiary institution staff loan scheme has paid ₦13.3 billion to 7,450 beneficiaries, with another ₦1.7 billion undergoing institutional processing.
The National Economic Council has approved a $4.5bn refinancing of the Project Gazelle oil-backed loan, replacing the 2023 $3.3bn facility.
The refinancing will unlock about $3bn in fresh liquidity while reducing the volume of crude pledged as collateral...
Nigeria’s consumer credit fell 19.89 percent to ₦3.78 trillion in 2025, marking the first annual decline since December 2019 as high interest rates curbed household borrowing and reduced the share of consumer loans in private sector credit.
Personal...
June 1 (THEWILL) — Nigerian banks increased their lending to the Federal Government by ₦15.66 trillion over the past year, highlighting a growing preference for public-sector exposure amid weaker credit growth to businesses and households.
According to the Central Bank...
May 26 (THEWILL) — The Federal Government has cancelled $717.7 million in undisbursed funding under the World Bank-backed Power Sector Recovery Performance-Based Operation (PSRO), dealing a major blow to Nigeria’s efforts to restore stability and financial sustainability in the...
April 29, (THEWILL) — The Senate, on Wednesday, approved President Bola Tinubu’s request to obtain a $516 million syndicated loan facility from Deutsche Bank AG for the construction of critical sections of the proposed Sokoto–Badagry Superhighway.
THEWILL reports that the...
June 05, (THEWILL) – President Bola Tinubu has requested an emergency loan of ¥15 billion (approximately $110 million) from the Japan International Cooperation Agency (JICA) to support efforts aimed at boosting food security across Nigeria.
The request, which forms part...
March 04, (THEWILL) – The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has commenced investigations into the allegations that the $3.4 billion loan obtained from the International Monetary Fund (IMF) is "missing, diverted or unaccounted for".
A civil...
The President, Bola Ahmed Tinubu has flagged off the construction of the $3.5 billion Bakassi Deep Seaport in Cross River State, describing the project as a strategic investment that will reduce pressure on Lagos ports and reposition Nigeria’s maritime industry.
