Federal Government Initiates Solutions with $2.25 Billion Afrexim Bank Facility to Aid Economy
The Nigerian Federal Government has obtained a substantial $2.25 billion foreign exchange support facility from the African Import-Export Bank, marking the initial segment of a larger $3.3 billion loan.
Minister of Finance Wale Edun, confirmed this development, highlighting its primary aim to alleviate the acute foreign exchange scarcity that has significantly impacted the country’s economy.
The remaining $1.05 billion is expected to be received in early January. Edun emphasized ongoing efforts to address Nigeria’s economic challenges, signalling proactive measures being taken.
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