Nigerian govt receives $.2.25B Afrexim bank loan to solve forex crisis

African Import-Export Bank gave the Nigerian Federal Government a $2.25 billion foreign exchange support loan on Friday.

In a recent interview, Wale Edun, the Minister of Finance, affirmed this to Arise Television News.

He noted that it is the first installment of the bank’s $3.3 billion facility and mentioned how the economy was impeded by the loan taken out to address the severe lack of foreign exchange.

In light of this, the administration said that the remaining $1.05 billion will be received during the first week of January.

Edun declared that efforts to address Nigeria’s economic problems have begun.

Remember how the Nigerian National Petroleum Company Limited said in August 2023 that it had obtained a $3 billion emergency loan from Afrexim Bank in order to stabilise the unstable foreign exchange market in the nation?

Please don’t forget to “Allow the notification” so you will be the first to get our gist when we publish it. 
Drop your comment in the section below, and don’t forget to share the post.