Home Business Nigeria seeks $5bn loan from World Bank to boost electricity
Nigeria seeks $5bn loan from World Bank to boost electricity
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Nigeria seeks $5bn loan from World Bank to boost electricity

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Image result for FG seeks $5bn loan from World Bank to boost electricity supply The Nigerian government is seeking a loan of $5bn from the World Bank Group to invest in its electricity sector.

The Director of Operations at the Multilateral Investment Guarantee Agency, an arm of the World Bank Group, Sarvesh Suri said the agency would deploy a full range of instruments to mobilise investments to resolve Nigeria’s energy crisis.

According to the Debt Management Office, the World Bank holds more than 50 per cent of the country’s external debt portfolio.

Nigeria’s indebtedness to the World Bank is expected to rise to about $11 billion

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