Tag: LOAN

FG announces N75bn interest-free loan for market women

Aminu Imam

The Minister of Humanitarian Affairs and Poverty Alleviation, Dr. Betta Edu, announced on Tuesday that the Federal Government is set to provide a non-interest loan of N50,000 to 1.5 million market women under the Government Enterprise and Empowerment Programme, (GEEP). This initiative aims to boost their capital and foster business expansion. She stated that the N75 billion market women fund, to be named the ‘Iyaloja Fund’ for under-privileged female traders, is set to be inaugurated on October 17. During an advocacy visit to the Minister of Information and National Orientation,…

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FG ignores debt concerns, takes $1.95bn World Bank loans

Aminu Imam

Federal Government has secured a substantial $1.95 billion loan from the World Bank within the initial four months of President Bola Tinubus tenure. This is coming amidst rising public concern over the nations increasing debt profile. These funds are earmarked for pivotal sectors including education ($700 million), power ($750 million), and women empowerment ($500 million). The announcement of this borrowing has been met with skepticism by a populace weary of the nations long-standing issues such as infrastructure decay and escalating unemployment. While some citizens acknowledge the governments constrained resources amidst…

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FG receives fresh N535.6bn ($700m) loan from World Bank

Aminu Imam

The Federal Government, under President Bola Ahmed Tinubu, has secured the approval of a fresh N535.6 billion ($700m) loan from the World Bank. The World Bank, which disclosed this in a statement published on the website on Friday, said the new loan is to provide additional funds for an on-going project known as the ‘Adolescent Girls Initiative for Learning and Empowerment’. The statement read in part: The World Bank has approved additional financing of $700m for Nigeria to scale-up the Adolescent Girls Initiative for Learning and Empowerment programme, whose goal…

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FG prepares to give students’ loan in September

Abdul-Azeez Ahmed Kadir

The Federal Government says it is working out modalities to begin students loan between September and October 2023. The Permanent Secretary, Federal Ministry of Education, David Adejo, disclosed this in Abuja on Wednesday while addressing newsmen on the bill signed by President Bola Tinubu. President Tinubu on Monday signed into law the Student Loan Bill in fulfillment of a promise he made during his campaign. The student loan bill sponsored by the Speaker of the 9th House of Representatives, Femi Gbajabiamila, provides for interest-free loans to indigent Nigerian students. Adejo…

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