UPDATED: World Bank okays $1.57bn loan for Nigeria

UPDATED: World Bank okays $1.57bn loan for Nigeria

The World Bank has approved three new loan requests totalling $1.57bn in financing for Nigeria. According to a statement released on Monday, the approval is to support the Federal Government in strengthening human capital through better health for women, children and adolescents. It added that the approved projects would also help build resilience to the effects of climate change, such as floods and drought, by improving dam safety and irrigation. […]

September 30, 2024 7

BUSINESS

Fuel crisis lingers as NNPC seeks fresh $2bn crude-backed loan

The Nigerian National Petroleum Company Limited is in talks for another oil-backed loan to boost its finances and allow investment in its business, the Group Chief Executive Officer, NNPC, Mele Kyari, has said. Sources familiar with the situation said the oil firm aims to raise at least $2bn through the proposed new loan. In August 2023, NNPC announced that it had secured a $3.3bn emergency crude oil repayment loan from […]

July 10, 2024 21

NEWS

Fuel crisis lingers as NNPC seeks fresh $2bn crude-backed loan

The Nigerian National Petroleum Company Limited is in talks for another oil-backed loan to boost its finances and allow investment in its business, the Group Chief Executive Officer, NNPC, Mele Kyari, has said. Sources familiar with the situation said the oil firm aims to raise at least $2bn through the proposed new loan. In August 2023, NNPC announced that it had secured a $3.3bn emergency crude oil repayment loan from […]

July 10, 2024 14

BUSINESS

12 more institutions onboarded for student loan- NELFUND

The management of the Nigerian Education Loan Fund on Wednesday said 12 state government-owned tertiary institutions have been onboarded to the student loan application pool. A statement signed by the Head, Media and Public Relations of the Fund, Nasir Ayitogo, noted that the onboarding followed the successful submission and verification of data completeness. “With this latest addition, the total number of participating state government-owned tertiary institutions has now increased from […]

July 10, 2024 11

NEWS

NELFund disassociates from fake student loan site

The Nigerian Education Loan Fund has warned against what it described as a “fraudulent advertisement” about a ‘Federal Study Loan.’ This followed adverts on some news sites where the website, www.fedstudyloan-gov.ng is being advertised as the application portal for the highly anticipated student loan scheme of the Federal Government. “NELFUND wishes to clarify that it has no association with this website and strongly condemns any attempt to deceive students seeking […]

April 26, 2024 30

NEWS

FG postpones students loan launch indefinitely

The Federal Government has postponed the launch of the Nigerian Students Loan Scheme indefinitely. The Executive Secretary of the Nigerian Education Loan Fund, Akintunde Sawyer, made this known during an interview with ARISE NEWS on Tuesday. In June 2023, President Bola Tinubu signed a bill to start a Students Loan Fund that would give interest-free loans to Nigerians for higher education. A former Speaker of the House of Representatives, Femi […]

March 13, 2024 12

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