Monday, October 13, 2025
  • Share your story
  • About
  • Contact
Economy FootPrint
  • Home
  • News & Politics
  • Opinion
  • Finance & Economy
  • Aviation
  • Editorial
  • Transport & Blue Economy
  • Features | Analysis
  • Health | Environment
Economy FootPrint
Home Finance | Insurance | Pension

President Tinubu seeks approval for $800m loan from World Bank

EconomyFoot Print by EconomyFoot Print
July 13, 2023
in Finance | Insurance | Pension, Top News
Reading Time: 2 mins read
0
Share on FacebookShare on Twitter

Related posts

GOV. ALIA’S TO BORROW N100BN TO FINANCE INFRASTRUCTURE 

October 11, 2025
TIV YOUTHS CONDEMN KILLING OF MISS FAVOUR AKAAZA BY ALLEDGED ARMED FULANI MEN

TIV YOUTHS CONDEMN KILLING OF MISS FAVOUR AKAAZA BY ALLEDGED ARMED FULANI MEN

October 11, 2025

Despite wide public condemnation of the $800 million facility from the World Bank requested by the immediate past administration, President Bola Ahmed Tinubu has requested same facility from the world Bank.
He has approached the Senate for approval of the loan.
President Tinubu, in a letter read by Senate President Godswill Akpabio during plenary Thursday, asked the 10th Senate to approve the borrowing request.
The president, in the letter, explained that the loan would be used to scale up the National Social Safety Net Programme, a programme that has been widely criticized for not being transparent.
Tinubu’s letter reads: “Please note that the federal executive council led by President Muhammadu Buhari approved an additional loan facility to the tune of $800 million to be secured from the World Bank for the National Social Safety Net programme. Copy of FEC’s extract attached.
“You may also wish to note that the purpose of the facility is to expand coverage of shock responsive safety net support among the poor and vulnerable Nigerians. This will assist them in coping with basic needs.
“You may further wish to note that under the conditional cash transfer window of the programme, the federal government of Nigeria will transfer the sum of N8,000 per month to 12 million poor and low income households for a period of six months, with a multiplier effect on about 60 million individuals.
“In order to guarantee the credibility of the process, digital transfers will be made directly to beneficiaries’ accounts and mobile wallets.
“It is expected that the programme, will stimulate economic activities in the informal sector, and improve nutrition, health, education, and human capital development of beneficiaries’ households.
“Given the above, I wish to invite the Senate to kindly grant approval for the additional loan facility of $800 million to be secured from World Bank for the National Social Safety Net Programme.
“While hoping that this submission will receive expeditious consideration by the Senate, please accept the assurances of my highest regards.”

Previous Post

Charge Emefiele to Court or Release Him on Bail – Court tells DSS

Next Post

NiMet Sensitises Management Staff on Freedom of Information Act 

Next Post

NiMet Sensitises Management Staff on Freedom of Information Act 

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

Cardoso confirmed as CBN Governor, Deputy Governors 

2 years ago

Troops Rescue 6 Abducted Victims, Arrest 32 Suspected IPOB Militants in Enugu

5 months ago

FR. HYACINTH ALIA, YOU ARE DECIDELY WRONG!

6 months ago

TIv Youth Organization Lauds IGP For Recognizing Role Of Youths In Nation Building

1 year ago

FOLLOW US

  • 86.2k Followers

BROWSE BY CATEGORIES

  • Aviation
  • Brands
  • Crime
  • Editorial
  • Features | Analysis
  • Finance | Insurance | Pension
  • Health | Environment
  • Industry | Trade | Commerce
  • International
  • Interview | Profile
  • News
  • Opinion
  • Politics
  • Small Business
  • Sports
  • Top News
  • Transport & Blue Economy
  • Uncategorized

BROWSE BY TOPICS

2023 Benue Budget Abuja-Kaduna Rail Access Corporation Access pension airports concession Aviation Ayu Benue Budget Benue Community Buhari Business CBN Central Bank Dana Air Economy FGPL Herdsmen Herdsmen attacks insecurity insurance Maritime Min of Transport MSMEs NAICOM NCAA Nigeria Nigeria -Cameroon Border Post Nigeria Air NRac Onne Port ooh Orrom Ortom PDP PenCom pension Railway Sambo Jaji Transcorp Transcorp Group Transcorp Hotels Plc UBA Ukohol Wike Wildon Ideva

BROWSE BY CATEGORIES

  • Aviation
  • Brands
  • Crime
  • Editorial
  • Features | Analysis
  • Finance | Insurance | Pension
  • Health | Environment
  • Industry | Trade | Commerce
  • International
  • Interview | Profile
  • News
  • Opinion
  • Politics
  • Small Business
  • Sports
  • Top News
  • Transport & Blue Economy
  • Uncategorized

Economy Footprint

The EconomyFootprint is published by Ideas Tent Communications Ltd®. All Rights Reserved.

Follow us on social media:

Recent News

  • Capital Flight and the Politics of Betrayal: When Leaders Stop Believing in Their Own Economy
  • ‎The price of ambition — Gov Alia’s craze for a second term ‎
  • GOV. ALIA’S TO BORROW N100BN TO FINANCE INFRASTRUCTURE 

Category

  • Aviation
  • Brands
  • Crime
  • Editorial
  • Features | Analysis
  • Finance | Insurance | Pension
  • Health | Environment
  • Industry | Trade | Commerce
  • International
  • Interview | Profile
  • News
  • Opinion
  • Politics
  • Small Business
  • Sports
  • Top News
  • Transport & Blue Economy
  • Uncategorized

Recent News

Capital Flight and the Politics of Betrayal: When Leaders Stop Believing in Their Own Economy

Capital Flight and the Politics of Betrayal: When Leaders Stop Believing in Their Own Economy

October 13, 2025

‎The price of ambition — Gov Alia’s craze for a second term ‎

October 12, 2025
No Result
View All Result
  • Home
  • Politics
  • News
  • Sports
  • Opinion