• About Us
  • Terms & Conditions
  • Contact Us
Tuesday, January 31, 2023
Investogist
No Result
View All Result
  • Home
  • News
    • All
    • Africa
    • Nigeria
    • World
    Suspected herdsmen ambush Benue policemen, kill DPO

    Suspected herdsmen ambush Benue policemen, kill DPO

    Nigerians will soon know the “actual truth” about Atiku – Gov Wike

    Wike accuses PDP national leaders of sabotage for withdrawing from Rivers suits

    All diaspora remittances must be received by beneficiaries in foreign currency only – CBN

    JUST IN: Banks will accept old naira notes after deadline – Emefiele

    Our agents around Sambisa forest, conducting cash swap – CBN governor Emefiele

    Emefiele an enemy of democracy, wants to cause uprising – APC PCC New Media Director

    Two Nigerians shot dead in renewed xenophobic attacks in South Africa

    Two Nigerians shot dead in renewed xenophobic attacks in South Africa

    JUST IN: We will dialogue with different Russian president – Zelensky

    Ukrainian officials banned from traveling abroad

    Nigeria’s GDP grows 5.01% YoY in real terms in Q2 2021

    The Nigerian Equities Market Opened Positive … As the NGX-ASI up 0.95%

    Tinubu speaks like someone with “incoherent discourse and absence of mind” – PDP

    PDP condemns Tinubu’s ‘sponsored’ attack on Buhari in Kano

    Security features of the new naira notes revealed by the CBN

    DSS intercepts syndicates selling new naira notes, bank officials implicated

    • Nigeria
    • Africa
    • World
  • Economy
    • All
    • Budgets
    • Economic Data
    • Policies
    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    FG explains why Nigeria’s total debt will rise to N77 trillion by the end of May 2023

    U.S unemployment fell to a five-decade low

    U.S unemployment fell to a five-decade low

    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    Nigeria’s total debt rise above N44 trillion – DMO

    FG approves 39 licences for fish importation

    Q3 2022: Nigeria’s total trade stood at N11.6 trn, total export falls nearly 20% QoQ

    Update: Central Bank of Nigeria instructs banks to close accounts related to Crypto

    JUST IN: CBN limits weekly cash withdrawal to N100k

    Law to legalize crypto as a payment method passed in Brazil

    Law to legalize crypto as a payment method passed in Brazil

    Will Nigerians in diaspora be committing an offence if they make a campaign donation?

    Rivers and Oyo State to join others in establishing small claims courts

    Non-oil sector contributes 93.67% to Nigeria’s GDP in Q2 2022

    Nigeria’s GDP growth slows to 2.25% in Q3 2022, oil sector contribution declines further

    Buhari to unveil new naira notes Wednesday — no longer Dec 15

    Buhari to unveil new naira notes Wednesday — no longer Dec 15

    • Policies
    • Budgets
    • Economic Data
  • Markets
    • All
    • Commodities
    • Cryptocurrencies
    • Forex
    • Rates & Bonds
    • Stocks/Equities
    Equity Market turns bearish… As Value Traded Spikes by 409.01%

    The Local bourse Closed The Week Bearish… As the NGX-ASI fell by 0.18%.

    Local Bourse closed in Bullish Territory… As NGX-ASI at 0.31%

    NGX-ASI Turns Bullish…As Oil & Gas sector closed at a Gain of 1.58%

    The Okomu Oil Palm Plc announces N7.00 interim dividend for H1 2022

    Local Bourse Records 2nd Day Loss…… As NGX-ASI Decreases by 0.02%

    FGN Savings Bond rate rises above 12% in September 2022

    DMO offers N360 bn FGN Bonds for subscription in January

    FY 2020: Nigerian Breweries Plc reports 54.3% decline in profit

    Sellers Sway the Performance of the Equities Market… As NGX-ASI Dips By 0.09%

    MTN Nigeria Communications Plc announces Board Meeting and close period for Q1 2021

    MTN Nigeria set to allot ‘incentive shares’ to shareholders

    Nestle Nigeria Plc announces Board meeting to consider 2020 accounts and dividend

    NGX-ASI Depreciated by 2.03%… As Year-to-Date slides down to 2.62%

    NGX Reg lifts suspension on Trading of Niger Insurance Plc’s shares

    NGX Reg lifts suspension on trading of International Energy Insurance Plc shares

    Nigeria’s GDP grows 5.01% YoY in real terms in Q2 2021

    The Local Bourse Records Gains… As Year-to-Date in closed at 2.68%

    • Stocks/Equities
    • Forex
    • Rates & Bonds
    • Commodities
    • Cryptocurrencies
  • Business
    • All
    • Agriculture
    • Companies
    • Industry
    • Technology
    Directors of Geregu Power Plc approve dividend declaration for 2022 FY

    Directors of Geregu Power Plc approve dividend declaration for 2022 FY

    NPF Microfinance Bank Shareholders approve 20k dividend

    NPF Microfinance Bank reports 77.79% growth in Profit for 2022 financial year

    UBA suffers maximum possible loss on NSE as investors dump the stocks

    UBA Africa gets first female CEO

    CAP Plc posts N2.08bn profit in 2022, 85.95% YoY growth

    CAP Plc posts N2.08bn profit in 2022, 85.95% YoY growth

    Zenith Bank’s Board of Directors approve payment of final dividend for 2022

    Zenith Bank’s Board of Directors approve payment of final dividend for 2022

    GlaxoSmithKline Nig. Plc reports N692mn profit for the 2022 financial year

    GlaxoSmithKline Nig. Plc reports N692mn profit for the 2022 financial year

    Cadbury Nigeria Plc’s profit more than doubled in 2022 amid revenue growth

    Cadbury Nigeria Plc’s profit more than doubled in 2022 amid revenue growth

    FY 2020: Unilever Nigeria Plc remains in loss despite revenue growth

    Unilever Nigeria Plc grows profit by 75.8% in FY 2022

    Dangote Cement Plc announces date of Board meeting to consider 2020 accounts

    Dangote Cement Plc appoints Arvind Pathak as new GMD

    • Companies
    • Industry
    • Technology
  • Sports
    • Football
  • Opinion & Analysis
    • All
    • Columnists
    • Editorials
    • Investogist Business Saturday
    • Op-ed
    North-West, South-West lead as INEC registers 96.2 million, Rivers overtakes Katsina

    ELECTION: How to check your polling unit, code online

    4 things to consider before buying a laptop

    4 things to consider before buying a laptop

    How to move to Canada by starting a business – Part 1

    How to move to Canada by starting a business – Part 2

    How to move to Canada by starting a business – Part 1

    How to move to Canada by starting a business – Part 1

    Building a Successful Business Organization: Lessons from the Bible

    Building a Successful Business Organization: Lessons from the Bible

    2023 Bible Lessons on Setting your Financial/Investment Goals

    2023 Bible Lessons on Setting your Financial/Investment Goals

    Fact check: Is the Investment Peter Obi made for Anambra State worth next to nothing?

    Fact check: Is the Investment Peter Obi made for Anambra State worth next to nothing?

    37 years between the Buhari regimes… Economic lamentations remain the same

    37 years between the Buhari regimes… Economic lamentations remain the same

    FACT CHECK: Did Buhari inherit lowest oil production as Tinubu claims?

    FACT CHECK: Did Buhari inherit lowest oil production as Tinubu claims?

    • Editorials
    • Book Club
    • Investogist Business Saturday
    • Op-ed
  • Financial Education
  • Vacancies
  • Home
  • News
    • All
    • Africa
    • Nigeria
    • World
    Suspected herdsmen ambush Benue policemen, kill DPO

    Suspected herdsmen ambush Benue policemen, kill DPO

    Nigerians will soon know the “actual truth” about Atiku – Gov Wike

    Wike accuses PDP national leaders of sabotage for withdrawing from Rivers suits

    All diaspora remittances must be received by beneficiaries in foreign currency only – CBN

    JUST IN: Banks will accept old naira notes after deadline – Emefiele

    Our agents around Sambisa forest, conducting cash swap – CBN governor Emefiele

    Emefiele an enemy of democracy, wants to cause uprising – APC PCC New Media Director

    Two Nigerians shot dead in renewed xenophobic attacks in South Africa

    Two Nigerians shot dead in renewed xenophobic attacks in South Africa

    JUST IN: We will dialogue with different Russian president – Zelensky

    Ukrainian officials banned from traveling abroad

    Nigeria’s GDP grows 5.01% YoY in real terms in Q2 2021

    The Nigerian Equities Market Opened Positive … As the NGX-ASI up 0.95%

    Tinubu speaks like someone with “incoherent discourse and absence of mind” – PDP

    PDP condemns Tinubu’s ‘sponsored’ attack on Buhari in Kano

    Security features of the new naira notes revealed by the CBN

    DSS intercepts syndicates selling new naira notes, bank officials implicated

    • Nigeria
    • Africa
    • World
  • Economy
    • All
    • Budgets
    • Economic Data
    • Policies
    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    FG explains why Nigeria’s total debt will rise to N77 trillion by the end of May 2023

    U.S unemployment fell to a five-decade low

    U.S unemployment fell to a five-decade low

    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    Nigeria’s total debt rise above N44 trillion – DMO

    FG approves 39 licences for fish importation

    Q3 2022: Nigeria’s total trade stood at N11.6 trn, total export falls nearly 20% QoQ

    Update: Central Bank of Nigeria instructs banks to close accounts related to Crypto

    JUST IN: CBN limits weekly cash withdrawal to N100k

    Law to legalize crypto as a payment method passed in Brazil

    Law to legalize crypto as a payment method passed in Brazil

    Will Nigerians in diaspora be committing an offence if they make a campaign donation?

    Rivers and Oyo State to join others in establishing small claims courts

    Non-oil sector contributes 93.67% to Nigeria’s GDP in Q2 2022

    Nigeria’s GDP growth slows to 2.25% in Q3 2022, oil sector contribution declines further

    Buhari to unveil new naira notes Wednesday — no longer Dec 15

    Buhari to unveil new naira notes Wednesday — no longer Dec 15

    • Policies
    • Budgets
    • Economic Data
  • Markets
    • All
    • Commodities
    • Cryptocurrencies
    • Forex
    • Rates & Bonds
    • Stocks/Equities
    Equity Market turns bearish… As Value Traded Spikes by 409.01%

    The Local bourse Closed The Week Bearish… As the NGX-ASI fell by 0.18%.

    Local Bourse closed in Bullish Territory… As NGX-ASI at 0.31%

    NGX-ASI Turns Bullish…As Oil & Gas sector closed at a Gain of 1.58%

    The Okomu Oil Palm Plc announces N7.00 interim dividend for H1 2022

    Local Bourse Records 2nd Day Loss…… As NGX-ASI Decreases by 0.02%

    FGN Savings Bond rate rises above 12% in September 2022

    DMO offers N360 bn FGN Bonds for subscription in January

    FY 2020: Nigerian Breweries Plc reports 54.3% decline in profit

    Sellers Sway the Performance of the Equities Market… As NGX-ASI Dips By 0.09%

    MTN Nigeria Communications Plc announces Board Meeting and close period for Q1 2021

    MTN Nigeria set to allot ‘incentive shares’ to shareholders

    Nestle Nigeria Plc announces Board meeting to consider 2020 accounts and dividend

    NGX-ASI Depreciated by 2.03%… As Year-to-Date slides down to 2.62%

    NGX Reg lifts suspension on Trading of Niger Insurance Plc’s shares

    NGX Reg lifts suspension on trading of International Energy Insurance Plc shares

    Nigeria’s GDP grows 5.01% YoY in real terms in Q2 2021

    The Local Bourse Records Gains… As Year-to-Date in closed at 2.68%

    • Stocks/Equities
    • Forex
    • Rates & Bonds
    • Commodities
    • Cryptocurrencies
  • Business
    • All
    • Agriculture
    • Companies
    • Industry
    • Technology
    Directors of Geregu Power Plc approve dividend declaration for 2022 FY

    Directors of Geregu Power Plc approve dividend declaration for 2022 FY

    NPF Microfinance Bank Shareholders approve 20k dividend

    NPF Microfinance Bank reports 77.79% growth in Profit for 2022 financial year

    UBA suffers maximum possible loss on NSE as investors dump the stocks

    UBA Africa gets first female CEO

    CAP Plc posts N2.08bn profit in 2022, 85.95% YoY growth

    CAP Plc posts N2.08bn profit in 2022, 85.95% YoY growth

    Zenith Bank’s Board of Directors approve payment of final dividend for 2022

    Zenith Bank’s Board of Directors approve payment of final dividend for 2022

    GlaxoSmithKline Nig. Plc reports N692mn profit for the 2022 financial year

    GlaxoSmithKline Nig. Plc reports N692mn profit for the 2022 financial year

    Cadbury Nigeria Plc’s profit more than doubled in 2022 amid revenue growth

    Cadbury Nigeria Plc’s profit more than doubled in 2022 amid revenue growth

    FY 2020: Unilever Nigeria Plc remains in loss despite revenue growth

    Unilever Nigeria Plc grows profit by 75.8% in FY 2022

    Dangote Cement Plc announces date of Board meeting to consider 2020 accounts

    Dangote Cement Plc appoints Arvind Pathak as new GMD

    • Companies
    • Industry
    • Technology
  • Sports
    • Football
  • Opinion & Analysis
    • All
    • Columnists
    • Editorials
    • Investogist Business Saturday
    • Op-ed
    North-West, South-West lead as INEC registers 96.2 million, Rivers overtakes Katsina

    ELECTION: How to check your polling unit, code online

    4 things to consider before buying a laptop

    4 things to consider before buying a laptop

    How to move to Canada by starting a business – Part 1

    How to move to Canada by starting a business – Part 2

    How to move to Canada by starting a business – Part 1

    How to move to Canada by starting a business – Part 1

    Building a Successful Business Organization: Lessons from the Bible

    Building a Successful Business Organization: Lessons from the Bible

    2023 Bible Lessons on Setting your Financial/Investment Goals

    2023 Bible Lessons on Setting your Financial/Investment Goals

    Fact check: Is the Investment Peter Obi made for Anambra State worth next to nothing?

    Fact check: Is the Investment Peter Obi made for Anambra State worth next to nothing?

    37 years between the Buhari regimes… Economic lamentations remain the same

    37 years between the Buhari regimes… Economic lamentations remain the same

    FACT CHECK: Did Buhari inherit lowest oil production as Tinubu claims?

    FACT CHECK: Did Buhari inherit lowest oil production as Tinubu claims?

    • Editorials
    • Book Club
    • Investogist Business Saturday
    • Op-ed
  • Financial Education
  • Vacancies
No Result
View All Result
Investogist
No Result
View All Result
Home News

AFDB Approved $288.5 million Loan for Nigeria

Sunday, 7 June 2020, 12:30 pm
in News, Nigeria
0
AFDB Approved $288.5 million Loan for Nigeria
Share Share Share Share Send as Email

The Board of Directors of the African Development Bank (AFDB) on Friday approved a $288.5 million loan for Nigeria. The aim is to help Nigeria tackle the COVID-19 pandemic and mitigate its impact on people and businesses according to the report on the bank’s website.

“The loan will bolster the government’s plans to improve surveillance and response to COVID-19 emergencies, ease the impact on workers and businesses and strengthen the social protection system” the report read in part.

The revenue of the Nigerian government has been hugely affected by the crash in oil prices due to Covid-19 pandemic. The government has continued to increase its loan portfolio, which has become a thing of concern for the citizens and stakeholders. Debt servicing alone will gulp over 28% of Nigeria’s 2020 budget.

  • Read more; OPEC unanimously agree to extend 9.7 mb/d oil production cut
  • Nigeria to Spend N2.95 trillion on Debt Servicing

The International Monetary Fund (IMF) on 28 April approved $3.4 billion loan facility for Nigeria to aid in alleviating the economic impact of Covid-19.

In April, National Assembly approved a loan request of N850 billion for the Federal Government in addition to the $22.79 billion approved by the Senate earlier this year.

Recall that Investogist reported on 28 May, that FG is seeking an approval for new borrowing of $5.51 billion for funding of capital projects.

According to the data on FMDQ website, Nigeria’s current public debt is N28.73 trillion as at Friday, 5 June 2020

The European Union had in April donated  €50 million to Nigeria as aid for the fight against Covid-19. The concern of several Nigerians is that these funds are not being judiciously used as over 80 million Nigerians are poor as reported by the National Bureau of Statistics. This implies that 4 out of every 10 Nigerians are poor prior to Covid-19 pandemic.

  • Read more; IMF approved $3.4 billion for Nigeria
  • FG Seeks Approval for New $5.51 billion Loan

Nigeria has the largest number of confirmed cases of Covid-19 and deaths in West African Region. Nigeria has recorded 12,233 confirmed cases of Covid-19 with 3,826 recoveries and 342 deaths.

The Senior Director of the African Development Bank for Nigeria Ebrima Faal, said that “the proposed program will ensure that the fiscal position and the economy are sufficiently supported to weather the COVID-19 shocks, thereby limiting its potential adverse impact on livelihoods and the economy more generally,”

“The Bank has instituted strong fiduciary measures to monitor the use of COVID-19 funds, and will maintain dialogue, particularly with the Office of the Auditor General in Nigeria, to ensure adherence to the transparency and accountability of the funds”, Faal said.

Written by;

Ifunanya Ikueze

Related Posts:

  • Another Loan for Nigeria: $750 Million from The World Bank for Electricity
    Another Loan for Nigeria: $750 Million from The World Bank…
  • African Development Bank approve $134 million loan for Nigeria
    African Development Bank approve $134 million loan for…
  • Tanzania signs $140mn loan agreement with AfDB Group
    Tanzania signs $140mn loan agreement with AfDB Group
  • Senate Approved $28 billion Foreign Loan for FG in One Year – Sen. President
    Senate Approved $28 billion Foreign Loan for FG in One Year…
Previous Post

OPEC unanimously agree to extend 9.7 mb/d oil production cut

Next Post

8 Ways to Save Money in Financial Difficulty

Next Post
Naira Value Slumps against Dollar and British Pounds.

8 Ways to Save Money in Financial Difficulty

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Plugin Install : Widget Tab Post needs JNews - View Counter to be installed
  • Trending
  • Comments
  • Latest
vacancy: Montego Upstream Services is recruiting

VACANCY: SPIE Services Nigeria Limited is recruiting

VACANCY: Egbin Power Plc is recruiting into several positions

VACANCY: Nestoil is recruiting into several positions

Tinubu speaks like someone with “incoherent discourse and absence of mind” – PDP

PDP condemns Tinubu’s ‘sponsored’ attack on Buhari in Kano

All diaspora remittances must be received by beneficiaries in foreign currency only – CBN

JUST IN: Banks will accept old naira notes after deadline – Emefiele

Two Nigerians shot dead in renewed xenophobic attacks in South Africa

Two Nigerians shot dead in renewed xenophobic attacks in South Africa

Our agents around Sambisa forest, conducting cash swap – CBN governor Emefiele

Emefiele an enemy of democracy, wants to cause uprising – APC PCC New Media Director

Suspected herdsmen ambush Benue policemen, kill DPO

Suspected herdsmen ambush Benue policemen, kill DPO

Directors of Geregu Power Plc approve dividend declaration for 2022 FY

Directors of Geregu Power Plc approve dividend declaration for 2022 FY

Nigerians will soon know the “actual truth” about Atiku – Gov Wike

Wike accuses PDP national leaders of sabotage for withdrawing from Rivers suits

All diaspora remittances must be received by beneficiaries in foreign currency only – CBN

JUST IN: Banks will accept old naira notes after deadline – Emefiele

Investogist
info@investogist.com

Follow us

Categories

  • Africa
  • Agriculture
  • Arts & Culture
  • Budgets
  • Business
  • Columnists
  • Commodities
  • Companies
  • Cryptocurrencies
  • Economic Data
  • Economy
  • Editorials
  • Financial Education
  • Football
  • Forex
  • Industry
  • Investogist Business Saturday
  • Job Opportunities
  • Markets
  • Nature
  • News
  • Nigeria
  • Op-ed
  • Opinion & Analysis
  • Places & People
  • Policies
  • Rates & Bonds
  • Sports
  • Stocks/Equities
  • Technology
  • Travel & Tours
  • Vacancies
  • World

Quick Links

  • News
  • Economy
  • Markets
  • Business
  • Opinion & Analysis
  • Travel & Tours

Newsletter

Copyright © 2023 investogist.com, All Rights Reserved

  • About Us
  • Terms & Conditions
  • Privacy Policy
  • Contact Us
No Result
View All Result
  • Home
  • News
    • Nigeria
    • Africa
    • World
  • Economy
    • Policies
    • Budgets
    • Economic Data
  • Markets
    • Stocks/Equities
    • Forex
    • Rates & Bonds
    • Commodities
    • Cryptocurrencies
  • Business
    • Companies
    • Industry
    • Technology
  • Sports
    • Football
  • Opinion & Analysis
    • Editorials
    • Book Club
    • Investogist Business Saturday
    • Op-ed
  • Financial Education
  • Vacancies

Copyright © 2023 investogist.com, All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist