By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Daily Report NigeriaDaily Report NigeriaDaily Report Nigeria
Notification Show More
Font ResizerAa
  • HOME
  • NEWS
  • POLITICS
  • METRO
  • ENTERTAINMENT
  • SPORTS
  • FACT FILE
  • SPECIAL REPORT
Reading: Moghalu Kicks as FG Plans Fresh $1.5bn World Bank Loan
Share
Font ResizerAa
Daily Report NigeriaDaily Report Nigeria
  • METRO
  • NEWS
  • POLITICS
  • SPECIAL REPORT
  • FACT FILE
Search
  • HOME
  • NEWS
  • POLITICS
  • METRO
  • ENTERTAINMENT
  • SPORTS
  • FACT FILE
  • SPECIAL REPORT
Have an existing account? Sign In
Follow US

Home | Moghalu Kicks as FG Plans Fresh $1.5bn World Bank Loan

BusinessNews

Moghalu Kicks as FG Plans Fresh $1.5bn World Bank Loan

Daily Report Nigeria
Daily Report Nigeria
Published: June 13, 2025
Last updated: June 13, 2025
3 Min Read
Share
Moghalu Kicks as FG Plans Fresh $1.5bn World Bank Loan | Daily Report Nigeria
SHARE

Plans by the Federal Government to borrow a fresh $1.5 billion loan from the World Bank have attracted kicks and condemnation from various quarters.

Daily Report Nigeria reports that Wale Edun, the Minister of Finance and Coordinating Minister of the Economy while speaking with newsmen at the 2023 Annual Meetings of the World Bank and the International Monetary Fund (IMF) in Marrakech, Morocco, confirmed the government’s plan to receive the loan.

In the Minister’s statement: “On the talks with the World Bank on $1.5 billion budget support, that is correct.

“The World Bank is the number one multilateral development bank helping developing countries or funding developing countries, projects and programs, and sectors.

ATTENTION: Click “HERE” to join our WhatsApp group and receive News updates directly on your WhatsApp!

“It has free money through either International Development Association (IDA).

“It is for the poorer countries and right now I think we qualify as one of the countries that can borrow in the normal window of World Bank funding but also some concessionary IDA funding and that means that effectively the interest rate will be zero,”

ALSO READ: FG Commences Low Altitude Flights in Taraba For Geographic Survey

The development has been greeted with differing reactions from stakeholders, including Dr. Kingsley Oghalu, a former Deputy Governor of the Central  Bank of Nigeria.

Reacting via his X official page, Moghalu said Nigeria is becoming a carcass, “and our political class its scavengers.”

“There is a real problem when Nigeria is set to borrow another $1.5 billion from @WorldBank for budget support, and SUVs worth N160 million each are reportedly to be bought for 360 members of the House of Representatives. We are not yet serious as a country.

“Nigeria is becoming a carcass, and our political class its scavengers,”

READ MORE FROM DAILY REPORT NIGERIA

Ijaws Raise Alarm Over Marginalisation in Tinubu’s Government

Reps to Distribute Official Vehicles as Nationwide Hardship Bites

NUC Warns NBTE Against Top-up Degree Program For Polytechnic Graduates

Nigeria Ranked Second Most Praying Nation on Earth

CBN Lifts Ban on Importation of 43 Items (FULL LIST)

Lamentations as Cooking Gas Price Hits N1,200 Per KG

Queues Return as Fuel Price Hits N1000 in Abuja

2023 WASSCE: WAEC Denies Ranking Abia as Top Performing State

For publication of Press Releases, Statements, and Advert Inquiries, send an email to info@dailyreport.ng
TAGGED:Kingsley MoghaluWale Edunworld bank
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link
Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Latest Updates

Club World Cup: PSG Set up Semi Final Battle With Madrid as Bayern, Dortmund Bow Out | Daily Report Nigeria
Club World Cup: PSG Set up Semi Final Battle With Madrid as Bayern, Dortmund Bow Out
Sports
WAFCON 2024 Kicks Off in Morocco as Twelve Nations Battle for African Glory | Daily Report Nigeria
WAFCON 2024 Kicks Off in Morocco as Twelve Nations Battle for African Glory
Sports
Nigeria Immigration Declares Amnesty for Foreigners With Expired Visas | Daily Report Nigeria
Nigeria Immigration Declares Amnesty for Foreigners With Expired Visas
Business
PDP Reconciliation Chairman Quits Party, Joins ADC | Daily Report Nigeria
PDP Reconciliation Chairman Quits Party, Joins ADC
Politics
PDP Faces Deepening Crisis as Wave of Defections Hits Party | Daily Report Nigeria
PDP Faces Deepening Crisis as Wave of Defections Hits Party
Politics

TOPIC

2023 Elections Abuja Accident AFCON Anambra APC Arrest ASUU ASUU Strike Atiku Abubakar Bandits Bayelsa BBNaija Biafra Boko Haram Bola Ahmed Tinubu Bola Tinubu Breaking News Breaking News Nigeria Burna Boy Burutu CBN Celebrity news Chelsea Coronavirus court covid-19 Crime Daily Report Ng Daily Report Nigeria Daily Sports News Davido Delta Delta state DSS Education EFCC Elections English Premier League EPL Family federal government FG FIFA World Cup Football Fraud Godwin Emefiele Goodluck Jonathan Governor Nyesom Wike Gunmen Health Ifeanyi Okowa Imo INEC Insecurity IPOB IYC JAMB Kaduna Kidnap Labour Party Lagos Lagos State Manchester United Marriage Muhammadu buhari Music NASS NDDC NDLEA Niger Delta Nigeria NLC Nnamdi Kanu NNPC Nollywood Nyesom Wike Olusegun Obasanjo Pastor PDP Peter Obi Police Politicians President Bola Ahmed Tinubu President Muhammadu buhari Professor Yemi Osinbajo Protest Rape Reno Omokri Rivers State Senate Sheriff Oborevwori Social Media Suicide Super Eagles Tinubu Top Stories Twitter Victor Osimhen Zamfara

You Might Also Like

Women Protest at National Assembly Over Rejected Bills

June 13, 2025
NANS Zone B Congratulates PDP Ward2Ward Coordinators, Okorie, Leonard | Daily Report Nigeria
News

NANS Zone B Congratulates PDP Ward2Ward Coordinators, Okorie, Leonard

June 14, 2025
BREAKING: Ex-Oyo Governor, Omololu Olunloyo Dies | Daily Report Nigeria
News

BREAKING: Ex-Oyo Governor, Omololu Olunloyo Dies

June 13, 2025
FG approves N25bn for tertiary institutions labs, workshops upgrade | Daily Report Nigeria
News

FG approves N25bn for tertiary institutions labs, workshops upgrade

June 13, 2025
© Daily Media N Publishing LTD. All Rights Reserved.
  • Home
  • About Us
  • Adverts With Us
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?