Otti Thanks Tinubu for $125m IsDB Loan for Abia Infrastructure

Otti Thanks Tinubu for $125m IsDB Loan for Abia Infrastructure

A major infrastructure initiative in Nigeria’s Abia State has secured a $125 million boost after President Bola Tinubu approved funding from the Islamic…

FG moves to clear N4trn GenCos’ debt as Wale Edun submits proposal to FEC

Wale Edun, the minister of finance and coordinating minister of the economy, says he presented a proposal to the federal executive council (FEC) to enable the federal government to clear the N4 trillion debt owed to power generation companies.   Edun spoke on Wednesday while briefing state house correspondents after the FEC meeting, presided over by President Bola Tinubu.   Edun said during the council’s meeting, he presented a memo on refinanci…

FEC approves $125m Islamic Development Bank loan for Abia infrastructure project

The Abia State Government has confirmed the approval of a long-anticipated $125 million financing facility from the Islamic Development Bank (IsDB) for the Abia State Integrated Infrastructure Development Project. According to a statement issued on Thursday by the Chief Press Secretary to Governor Alex Otti, Ukoha Ukoha, the Federal Executive Council (FEC) gave its nod […] The post FEC approves $125m Islamic Development Bank loan for Abia infras…

Otti Commends Tinubu As FEC Approves $125m IsDB Loan For Abia

Abia State governor, Alex Otti, has commended President Bola Tinubu after the Federal Executive Council (FEC) approved the long-awaited $125m Islamic Development Bank (IsDB) financing facility for the Abia State Integrated Infrastructure Development Project. The Federal Executive Council at its meeting of Wednesday, August 13 approved the loan. A statement issued on Thursday and signed by the Chief Press Secretary to the Executive Governor of Ab…

Tinubu Government Approves Steps To Clear ₦4trn Gencos Debt, Fund Abia Roads With $125m Loan

The Federal Government has commenced the process of settling ₦4 trillion in outstanding debts owed to Power Generation Companies (Gencos) with plans for a refinancing arrangement that could involve raising a bond to clear the obligation. Wale Edun, Minister of Finance and Coordinating Minister of the Economy, disclosed the plan while briefing State House correspondents […] The post Tinubu Government Approves Steps to Clear ₦4trn Gencos Debt, Fun…