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FG urges banks, fintechs to bridge $14.8bn gender

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FG urges banks, fintechs to bridge $14.8bn gender financing

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BOI to channel 80% large enterprise loans towards priority sectors

The Bank of Industry has rolled out a new financing strategy that will channel 80 per cent of its lending to large enterprises into priority sectors such as power, manufacturing, agribusiness, pharmaceuticals and digital infrastructure. The move positions the development finance institution at the centre of Nigeria’s industrial revival efforts. The bank said the strategy […]

featured Finance

W’Bank grants Nigeria’s $1.25bn loan request despite backlash

The World Bank has approved a fresh $1.25 billion loan for Nigeria under its Nigeria Actions for Investment and Jobs Acceleration programme, despite growing public concerns over the country’s rising external debt profile. The approval was announced on Wednesday alongside the launch of the World Bank’s new Country Partnership Framework for Nigeria, which will run […]

featured Finance

World Bank to end loans to China by 2031

The World Bank will phase out its lending to China by 2031 under its new Country Partnership Framework, marking a significant shift in its relationship with the world’s second-largest economy. Financial Times reported that according to a World Bank official who spoke on condition of anonymity, the decision reflects China’s economic progress over the past […]

featured Opinion

Atiku faults Tinubu’s fresh $516m Sokoto-Badagry loan request

Former Vice President Atiku Abubakar has fired a broadside at President Bola Tinubu over his request for Senate approval of a fresh $516 million external loan to finance portions of the Sokoto–Badagry Superhighway project, warning that Nigeria must not “borrow blindly” in the name of development. In a statement issued on Wednesday by his Senior […]

Loan apps: FCCPC to address rising debt with new policy
Policy and Regulations

FG probes ‘sharp sharp’ loan operators over customers privacy data breach

The Federal Government says it is investigating the activities of some ‘sharp sharp’ loan operators over alleged violation of data privacy of customers. The National Commissioner, Nigeria Data Protection Commission, Mr Vincent Olatunji, said this in an interview with the News Agency of Nigeria on Tuesday. NAN reports that ‘Sharp Sharp’ loan operators, also known […]

featured Finance

Account for ₦158trn foreign loans, SDP queries Tinubu

The Social Democratic Party has called on the administration of President Bola Ahmed Tinubu to provide a detailed account of over ₦158 trillion in foreign loans allegedly secured within the last three years. The party also expressed concern that recently approved loans by the National Assembly could be misapplied or diverted for political purposes ahead […]

featured Finance

Senate approves $6bn external loans for Tinubu

The Senate has approved the request of President Bola Tinubu to go for external loans totalling $6 billion. The approval came barely three and a half hours after the senate president, Godswill Akpabio, read the letter from the president, seeking the approval. The Senate approved the loans following the presentation and consideration of the report […]

Finance

Cross River disburses ₦500m loans to entrepreneurs

The Cross River State Governor, Bassey Otu, has reaffirmed his administration’s commitment to strengthening businesses and improving household livelihoods with the disbursement of N500 million in loans to entrepreneurs across the state. Represented by the Speaker of the State House of Assembly, Elvert Ayambem, the governor said the intervention forms part of deliberate efforts to […]

FAAC funds to FG, states hit 7-year high in 2023
featured Finance

FAAC, loans dominate govs’ funding plans for 2026 budget

State governments are heading into 2026 with expansive spending plans, but weak internally generated revenue is compelling many of them to depend heavily on federal transfers, borrowing, and temporary inflows to finance their budgets, according to an analysis by The PUNCH. A review of appropriation bills and approved estimates across several states indicates that only […]

featured Finance

AfDB approves $500m loan for Nigeria energy transition support

The African Development Bank Group announced on Wednesday that it has approved a $500 million loan facility for Nigeria. This substantial funding is specifically designated to support the second phase of the country’s economic governance and energy transition support programme. This facility is designed to bolster Nigeria’s comprehensive efforts to modernize its electricity infrastructure, significantly […]

featured Finance

W’Bank to disburse $500m loan for Nigeria’s Project BRIDGE

The $500 million loan from the World Bank for Nigeria’s Building Resilient Digital Infrastructure for Growth project, also known as Project BRIDGE, will be disbursed in six tranches over a six-year period. Specifically, the International Development Association loan will be disbursed from 2026 to 2031, subject to Nigeria meeting a series of performance conditions. Going […]

NELFUND clears student loans for 108 institutions nationwide
News

NELFUND clears student loans for 108 institutions nationwide

The Nigerian Education Loan Fund has announced the clearance of student loans across 108 government institutions throughout Nigeria. This update was shared via the official NELFUND page on X. In a statement, NELFUND emphasized its dedication to broadening educational access, stating, “The inclusion of these 22 new institutions underscores our commitment to ensuring that financial […]

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