The Federal Government on Friday received a $2.25b foreign exchange support facility from the African Import-Export Bank.

The Minister of Finance, Wale Edun, confirmed this to Arise TV, said it is the first tranche of the $3.3bn facility from the bank. He noted that the loan was aimed at resolving the acute FX shortage that has hampered the economy.

According to the report monitored by our correspondent, the balance of $1.05bn will be received in the first week of January.

Edun stated that work has commenced for solutions to Nigeria’s economic challenges.

In August, the Nigerian National Petroleum Company Limited announced that it had secured a $3bn emergency loan from the Afrexim Bank to stabilise the country’s volatile foreign exchange market.

https://punchng.com/fg-receives-2-25bn-afrexim-bank-loan/

Keep borrowing our future away

What exactly did the previous administration do with all these money

Ooops.are they just getting the money now

Dem don already loot the money finish sef

Dollar will start crashing, I pity hoarders. Expect N800 to $1

They shared it as a token in the national assembly

01Deji:
What exactly did the previous administration do with all these money

But he said he don't care about exchange rate cox he won't pay wages in dollar?

Good news.

It will lead to the naira strengthening against the dollar in few days

Emergency loan, epileptic economy.
This one will just save the naira for two weeks and the mumu government will start begging for another loan.

Ibusho:
Dollar will start crashing, I pity hoarders. Expect N800 to $1

The problem with Tinubu's administration is the same malfeasance that has plagued most of the past administrations in Nigeria.......blatant corruption, blatant tribalism and economic illiteracy...............when Peter Obi was shouting that Nigeria should become productive...APC urchins poopooed his submission but the truth is that he was correct! What did Buhari do to wreck the economy,the sahelian mumu borrowed 50 billion dollars and printed 60 billion naira,encouraged his fellow sahelian slave raiders to cut a path of terror across the productive and agrarian foodbasket of the nation.......even moving their terror to the food producing zones of the south! Today food and petrol prices headline inflation........Tinubu needs to isolate these 2 key components of headline inflation from core inflation figures and tackle them separately.......................fore core inflation instead of wasting 3billioon dollars on defending the naira( a vain task) he should identify serious local manufacturers and find out how government can help them crank up production in the short term!

For headline inflation like food price indices governement has to crack down on fulani banditry in our food zones, same fulani savagery also led to the formation of non state security outfits like ESN..........even if the army has to use mercenaries to achieve that! Increased food production will bring down prices!

Another looting... leading to more debts





Argue with your nose