Tag: Nigeria loan Portfolio

  • Fresh World Bank, AfDB, IDB loans may raise Nigeria’s debt to N31.7tn

    Fresh World Bank, AfDB, IDB loans may raise Nigeria’s debt to N31.7tn

    fresh loan disbursements expected from the World Bank, African Development Bank and Islamic Development Bank may raise Nigeria’s total public debt stock to N31.699tn in coming months. Nigeria currently expects about $1.844bn (N699.1bn at N379/$ official exchange rate) from the three financial institutions, Sunday PUNCH gathered from the Debt Management Office in Abuja. On September…

  • Endless Borrowing Will Lead to Endless Sorrowing — Atiku Abubakar

    Endless Borrowing Will Lead to Endless Sorrowing — Atiku Abubakar

    John Quincy Adams once said “there are two ways to conquer and enslave a nation. One is by the sword. The other is by debt.” He may have very well been referring to Nigeria of the last three years. Barely two weeks ago, I warned during my Founder’s Day lecture at the American University of…

  • Nigeria Loan Portfolio With World Bank Rises To $8.67bn

    Nigeria Loan Portfolio With World Bank Rises To $8.67bn

    Investigation conducted by the Punch Newspaper shows that World Bank loan portfolio in Nigeria now stands at $8.67bn.  Loans from the International Development Association, one of the three arms of the World Bank, make up $8.55bn of the portfolio. Loans from the International Bank for Reconstruction and Development, another arm of the Breton Woods institution,…