Nigeria approaches World Bank for another $2.5 billion loan

Nigeria has reportedly approached the World Bank for another loan to the tune of $2.5 or N767.3 billion in a new tranche of concessionary lending.

According to Bloomberg, the World Bank’s vice president for Africa, Hafez Ghanem disclosed this in Abuja on Wednesday night.

Ghanem stated in an interview that in the past year, Nigeria received $2.4 billion from the World Bank, while he stated that Nigeria and the world bank are in talks over a new $2.5 billion loan. “We’re talking about a new set of programs of about the same amount, it should be around $2.5 billion,” he said.

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