Nigeria has received a $1.5bn loan from the World Bank following the implementation of the fuel subsidy removal and introduction of key tax policy reforms by the present administration.
The fastest disbursement ever received by Nigeria, the loan is part of the nation’s Reforms for Economic Stabilisation to Enable Transformation Development Policy Financing initiative.
The first tranche of the loan was disbursed on July 2, after an approved on June 13, 202.
However, its second tranche was tied to the fulfilment of some key reform conditions given by the World Bank. It was also disburse in November 2024.
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