By Ikugbadi Oluwasegun
Nigeria is discussing as much as $1.5 billion of World Bank funding to help ease a severe dollar shortage that has contributed to the naira’s steep decline.
This was disclosed on Wednesday by Wale Edun, Minister of Finance, he said, “We’re hoping to get $1.5 billion from the World Bank for budgetary support.
“It is a matter of discussion at the moment, but we think we will get the support because we are continuing with our reforms.”
He added that the Federal Government’s priority is to stabilize the Naira, and that means getting additional liquidity from oil revenue and we are hoping to get $1.5 billion from the World Bank because we are discussing about it at the moment, we are also doing our reform at the macro economy level and we forward to growth returning, inflation getting down, interest rate coming down, and exchange rate stabilizing.