The Nigerian House of Representatives has attempted to clarify recent rumours regarding the distribution of SUVs to its members following a social media uproar. The House states that these SUVs will remain the property of the National Assembly, refuting reports that 360 members of the lower house were to retain them as personal gifts totaling ₦57.6 billion.
The Federal Government of Nigeria declared on Monday that it was in the process of securing a loan from the World Bank to fund important initiatives in important economic sectors. The first loan, amounting to $80 million, comes from the African Development Bank, while the second, a substantial $1.5 billion, is provided by the World Bank.
According to Wale Edun, the Coordinating Minister of the Economy and Minister of Finance, in a disclosure during a media briefing with State House correspondents in Abuja, “These financial arrangements have been initiated as part of Nigeria’s strategic efforts to implement macroeconomic reforms and make necessary decisions to rejuvenate its economic equilibrium, prompting assistance from respected multilateral development institutions.”
By Jubilee IBIK