Nigeria Secures $2.25 billion Loan From World Bank - Politics - Nairaland
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| Nigeria Secures $2.25 billion Loan From World Bank by DrMB: 4:04am On Apr 23 |
Loan Amount: $2.25 billion secured by Nigeria. Announcement: Made by Wale Edun, the Minister of Finance, during a press briefing in Washington DC, United States, at the conclusion of Nigeria’s activities at the World Bank/International Monetary Fund Spring meeting. Terms and Conditions: Moratorium: A 10-year moratorium period where Nigeria doesn't need to make any payments to the World Bank. Interest Rate: The loan carries a low-interest rate of 1%. However, from 2034 onwards, interest payments will commence. Term Period: The loan has a long-term period of 40 years, providing ample time for repayment and economic development initiatives. This injection of funds could be pivotal for Nigeria's economic development, provided it's utilized effectively and transparently.
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| Re: Nigeria Secures $2.25 billion Loan From World Bank by gaby(m): 4:34am On Apr 23 |
Indebting even the future generations for today's loot. 1 Like |
| Re: Nigeria Secures $2.25 billion Loan From World Bank by malali: 5:14am On Apr 23 |
How does somebody collect $2.25 billion dollars loan. Which is payable 3 years after the person has left office. Loans like this should be debated and voted on in the house by the HOUSE OF REPS /SENATE. After agreeing with intended spending bill, should it be accepted. If majority of the constituencies in Nigeria doesn't approve of the loan.....are we really practicing democracy ? This is a huge loan and the 1% doesn't really mean anything if the currency ends up getting devalued. I think loan acceptance from anybody should involve all Nigerians......Especially loans we would likely be paying back long after the receipients are long gone/dead. Where is the democracy ? |
| Re: Nigeria Secures $2.25 billion Loan From World Bank by vastolord4(m): 6:34am On Apr 23 |
Still seeking for loans? What about the saved up subsidy money? 1 Like |
| Re: Nigeria Secures $2.25 billion Loan From World Bank by cadmanspize: 6:35am On Apr 23 |
Renewed hope! You will soon know the meaning. |
| Re: Nigeria Secures $2.25 billion Loan From World Bank by jahsharon: 6:42am On Apr 23 |
Good terms and conditions to get the money that our politicians stole and hid in foreign countries |
| Re: Nigeria Secures $2.25 billion Loan From World Bank by jahsharon: 6:44am On Apr 23 |
vastolord4: Keep crying. We will run this government the way we like till 2031. One thing is sure the World Bank or IMF cannot dupe Emilokan Tinubu the god of Politics and Economics, he will rather dupe them for Nigeria's gain. ACE: Adedeji - Cardoso - Edun |
| Re: Nigeria Secures $2.25 billion Loan From World Bank by vastolord4(m): 6:46am On Apr 23 |
jahsharon: Who are the we? Lol.. just drink rain water and go back to bed.. |
| Re: Nigeria Secures $2.25 billion Loan From World Bank by magoo10(m): 7:18am On Apr 23 |
Sophisticated economists For how long will this abracadabra continue. |
| Re: Nigeria Secures $2.25 billion Loan From World Bank by kingsways: 7:19am On Apr 23 |
Are e supposed to start jumping and celebrating loan now |
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