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FG to Borrow $750m from World Bank.

The Federal government says it is planning to borrow $750 million from the World bank for some states to stimulate local economies in Nigeria.
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Minister of Finance, Budget, and National Planning, Zainab Ahmed, disclosed this at the inauguration ceremony of the Federal Steering Committees of the Nigeria COVID-19 Action Recovery and Economic Stimulus (N-CARES) in Abuja on Friday, November 13.
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According to the Finance Minister, the Nigerian Government “is in the process of accessing a World Bank loan of $750 million on behalf of the states, to stimulate the local economy and support vulnerable household’s consumption”.
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On the civil unrest and COVID-19 impact in Nigeria, the finance minister said the consequences would be too high if government ignores the root cause of rising anomaly in Nigeria.
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''The consequences will be too high if we ignore the root cause of rising civil unrest in our country. We must, therefore, fashion out ways of ensuring that post Covid-19 is not injurious to the Nigerian people and the economy” she said

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