Minister of Finance, Mrs. Kemi Adeosun
Oyetunji Abioye with agency report

The Federal Government has approved plans for external loans from the World Bank, China and Japan.

It specifically said Nigeria would take loans from institutions such as the World Bank, African Development Bank, Japan International Cooperation Agency, and Export-Import Bank of China, Bloomberg reported on Thursday.

This will include low-cost and long-term loans with interest rates of 1.25 per cent and maturity of 20 years, according to comments posted on its Twitter.

The Federal Government said that details of a proposed Eurobond due later this year would be announced “in due course.”

According to the Presidency, the government is now waiting for lawmakers to approve the plans.

President Muhammadu Buhari had announced a N6.1tn ($19.4bn) spending plan aimed at stimulating the economy this year. The economy contracted in the first two quarters as oil revenue plunged.

Buhari said he expected the Federal Government to raise about $5bn from the Eurobond market and multilateral and bilateral lenders.

The Debt Management Office had last month asked banks to place bids by September 19 if they wished to manage a $1bn Eurobond sale.

The Minister of Finance, Mrs. Kemi Adeosun, told bond investors in London in June that Nigeria was close to securing about $3bn of funding from the World Bank and African Development Bank.

Nigeria had issued dollar bonds twice, the last time in 2013. Yields on its $500m of securities due in July 2023 fell 11 basis points to 6.24 per cent, their lowest level since June 2015 and down more than 300 basis points since hitting a record 9.4 per cent on January 18, Bloomberg reported.

http://punchng.com/fg-okays-loans-world-bank-china-japan/

I just pray dis loan will not be looted.

Government of borrowing. What happened to the billions recovered from looters, ghost workers and TSA. Where are on a long thing in dis country.

It's one thing to get a loan and it's another thing to spend it judiciously. I just hope it would be pumped into the economy to ease liquidity and reflate the already battered economy, not kept in the bank for the usual lazy man profiteering by CBN. Some people just have to get down to serious work in this country, else what awaits them in 2019 will be the most embarrassing in Nigeria's history.

As long as the money won't be borrowed and kept in one (dormant account) TSA ,its a welcome development.

chai! this people!!!

China too? What happened to our currency swap deal? That one too has failed to see the light of the day just like many other policies of this government.

Everybody just dey give us Loan...
Very soon AL Queda and ISIS go give us loan join
Loan na loan...

BUHARI is a perfect description of a Tall huge handsome man with a very small Peniis

Its not about collecting loans even from the devil...it's about using the loans for what will benefit the masses. But some greedy old men will now sit on d loan and share it amongst themselves

. So they finally collected loan frm World Bank too? Wat hapnd to TSA, recovered loot, Amaechi's trillions of naira, stamp duty, etc. This is govt frm buhari to d least official r all as useless as the naira

Ok

Where is all the trillions chibuike ameachi claimed the buhari government has recovered from so called corruption? Where is all the quintrillion billion pound sterling that propagandists in the buhari administration were spouting out everyday that they recovered from denzani?

Buhari the undertaker is hammering the last nails in nigeria'a coffin.

we don't need it. let make use of what we have

Make I Go Shopping

They want to throw our children and grandchildren in debt

Jezuz!!! The recovered loot nko ?

they have choped our recovered loots. Suzan404 have you wake, come and see. Julietcutie

By the time apc finish with zombies this will be what they eat for breakfast

Chai, I weep for my country, dog going back to its vomit. Very soon we go dae chop 'pight against kwarruption'

This is a country that was the biggest economy in Africa less than 15 months back
This is a country that had unprecedented FDI inflow
This is a country that had significant investors (foreign and local) blowing hot in many sectors
This is a country that had relative peace in the Niger Delta and stable crude productions and sales

And a man came forward, implemented TSA, took war to the Nigerdelta, divided Nigeria into the 97% and 5% regions, tightened FX cash flow, frightened investors, gallivanted the globe telling the world how useless an corrupt Nigerians were, went after his political enemies, refused to provide an economic blueprint, murdered Shiites and IPOB, sponsored herdsmen, conducted inconclusive elections, created high level forex corruption platform for his northern elites, took nepotism and extremism to a brand new height ....... and in less than 15 months reduced a once hitherto promising economy/ nation to the mockery of all nations.

Now he stupidly comes back to tell Nigerians that the change he carefully destroyed begins with them. And we now have to borrow funds that will enslave our kids for many years to come just because we have an illiterate, undiscerning, old, evil and nomadic president.

May the lot who knew better but still took the path of tribalism to vote in the sufferings we are experiencing today never find things easy in a long time.

apc doing things d pdp way these days

Borrow Borrow make me rich

First was China and now World bank, Japan and China again..

The will be like "GIANT OF AFRICA "

Wat have they been doing wit all the money d collected from (1) looters(2) custom (3) India

sukkot:
hmmm gbese

Owe no man anything except love, the borrower is a slave to the lender, says pastor sukkot, the prophet from the wilderness crying prepare ye the way of the LORD

4nobody4every1:
Owe no man anything except love, the borrower is a slave to the lender, says pastor sukkot, the prophet from the wilderness crying prepare ye the way of the LORD

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Why did it take this long?

And when u get the loan u wil divert it to ur selfish satisfaction, boycotting the real needs for borrowing

What is dis woman still doing in that office?...

sukkot:


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