Buhari govt obtains fresh $124.2million loan

The Federal Executive Council has approved the obtaining of $104.2m and $20m loans from two international financial institutions for the development of water projects in Nigeria.

Spokesperson of the Federal Ministry of Water Resources, Kenechukwu Offie, disclosed this in a statement on Thursday, November 5, in Abuja.

According to her, “The Federal Executive Council at its meeting of November 4, 2020, approved to obtain loans of $104.2m from African Development Bank and $20m from African Growing Together Fund to finance Nigerian Urban Water Reform and Akure Water and Sanitation Project.

The project aims to provide sustainable access to safe drinking water for the residents of Akure city and its environs.”