Tag: loan

  • Plans to borrow $22.7bn suspended – FG

    Plans to borrow $22.7bn suspended – FG

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    by

    Starnews NG
    in

    The Minister of Finance, Mrs. Zainab Ahmed, yesterday, disclosed that the Federal Government has suspended its $22.7 billion external borrowing plans due to current realities in the global economic landscape driven by the fall-outs of the Coronavirus (COVID-19) pandemic. Speaking in Abuja, at the 2020 International Conference on the Nigerian Commodities Market, organized by the…

  • Again, FG Requests For Another $1bn Chinese Loan

    Again, FG Requests For Another $1bn Chinese Loan

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    by

    Starnews NG
    in

    The Federal Executive Council has approved another $1billion Chinese loan. It will be sourced from the China-EXIM Bank for the Gurara II Hydropower project. The power project is planned to generate 360 megawatts of electricity. The Minister of Water Resources, Mr Sulieman Adamu, has just confirmed the approval of the loan by FEC. President Muhammadu…