Tag: Federal Government of Nigeria

FG cancels $717.7 million World Bank power sector loan
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FG cancels $717.7 million World Bank power sector loan

The Federal Government of Nigeria has cancelled $717.7 million in undisbursed financing tied to a World Bank-backed electricity reform programme. The funds were part of a broader intervention designed to stabilise Nigeria’s power sector and reduce long-standing financial pressure on public finances.  The decision was taken jointly with the World Bank after both sides agreed to discontinue the remaining portion…

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