$4.9bn fresh loans: Buhari, Osinbajo zones get highest project allocations - Punch Newspapers

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•Six zones listed as beneficiaries of $62m NASS solar power infrastructure

Buhari in the letter, dated August 24, 2021, explained that the projects listed in the 2018-2021 Federal Government Borrowing Plan would be financed through sovereign loans from the World Bank, French Development Agency, EXIM Bank International Fund for Agricultural Development, Credit Suisse Group and Standard Chattered/China Export and Credit in the total sum of $4,054,476,863 and €710m and grant components of $125m.

Our correspondent, however, noticed that most of the projects that were listed for the two zones are projects that are common to all the geopolitical zones or more than two zones, leaving only one project that is peculiar to the South-West and two that are peculiar to the North-West. This is despite the fact that the impact of the project was stated in one of the documents as “to address the National Assembly complex’s power supply deficit and to reduce higher overhead burdensome cost of running and maintaining fossil fuel generators (25 megawatts installed capacity) to power the National Assembly complex.”

They include the World Bank – $3,250,000,000; China Exim Bank – $225,120,000; IFAD- $50,000,00; European ECA/KfW/IPEX/APC -$190,255,276; Bank of China -$276,981,587; and Standard Chartered Bank/China Export and Credit (SINOSURE) – $62,120,000.

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If the money is spent on projects and not looted like then I'm ok by it, I don't really care where projects are situated so long it is within Nigeria and Nigerians will benefit from it. Why Nigeria has infrastructure deficit was due to massive looting of funds for those projects.

Government of loans without focus and results. The loans are just going into private pockets .

Keep it up, we are inching closer to the freedom we truly deserve.

NASS spent billions for electronic voting which never worked or refused to use. There are towns in Nigeria that have never seen electric light, but wants to spend billions on solar. It's just a way to bribe them to approve the loan.

When will Gov Fayose join his good friend FFK in APC ?

It’s the fresh in the statement for me

9ja n loans

Yahoo yahoo government.. there generation will suffer it.

That's how they roll. Yorulani union of shameless almajiris. They keep borrowing without a repayment plan&when you as them to goforoduduwa or EndNigeriaNow, they develop high BP. Folks lyk DejiAdesogan, Eniel192,trolls_queen, ogundamisi etc are paid to defend idiocy.

Beautiful another cash out

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