NIGERIA IS SEEKING $ 5 BILLION LOANS FROM THE WORLD BANK TO BOOST ELECTRICITY

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minister of power
The Nigerian government is seeking a $ 5 billion loan from world Bank Group to invest in its electricity sector.


Sarvesh Suri, director of the World Bank's Multilateral Investment Guarantee Agency, said the agency would deploy a comprehensive tool to mobilize investment to tackle Nigeria's energy crisis.

According to the Office of Debt Management, the World Bank holds more than 50% of the country's external debt.

Nigeria's debt to the World Bank is expected to increase to about $ 11 billion

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