Tuesday, June 3, 2025
The Lagos Today
  • Login
No Result
View All Result
No Result
View All Result
The Lagos Today
No Result
View All Result
Home Business

‘Nigeria Has $5.83bn Undisbursed Foreign Loans’ – DMO Says

by Eucharia Egwuma
February 22, 2021
in Business
Reading Time: 3 mins read
0
0
‘Nigeria Has $5.83bn Undisbursed Foreign Loans’ – DMO Says
Share on FacebookShare on Twitter

Nigeria has over $5.83bn undisbursed foreign loans that have been approved, the Debt Management Office has said.

The DMO on its portal on Sunday listed a number of foreign loans that were to be disbursed as of December 31, 2020.

The disbursement of the loans will take the country’s total foreign debt commitment to more than $37.8bn.

Reports show that the country’s external debt as of September 30, 2020 stood at $31.99bn.

A table provided by the DMO titled ‘External loans signed but yet disbursed as at December 31, 2020’ showed that a larger percentage of the loans would come from the International Development Association, a member of World Bank Group.

The outstanding loans from the group stands at about $3.27bn.

Another $1.25bn is supposed to come from the Export-Import Bank of China. Apart from multilateral agencies, China has remained the nation’s largest creditor.

Other major sources of the undisbursed funds include Agence Francaise de Development from where the country will get more than 500 million Euros and the European Development Fund from where the country will collect about $425m.

The DMO also listed the projects and agencies that would benefit from the undisbursed funds.

These include Nigerian Supply of Rolling Stock and Depot Equipment for Abuja Light Rail Project, the Nigerian Greater Abuja Water Supply Project, Nigerian National Information Communication Technology Infrastructure Backbone Phase II Project; Four Airport Terminals Expansion Incremental Project, the Nigerian Four Airport Terminals Expansion Ancillary Project.

Others are Nigerian 40 Parboiled Rice Processing Plants Project, Say No to Famine of Nigeria, Nigeria Transmission Expansion Project Phase I (NTEP-1), Nigeria Transmission Expansion Project Phase I (NTEP-1) (AGTF); Second Africa Higher Education Centers of Excellence for Development Impact (ACE 3) Project; Rural Access and Agricultural Marketing Project; the Northern Corridor Power Transmission Project; and the Enhancing Vocational Training Delivery for the Power Sector in Nigeria.

The list also includes the Northern Core Dorsal Nord Regional Power Interconnector Project; the Ogun State Economic Transformation Project; the Innovation Development and Effectiveness in the Acquisition of Skills Project; the Immunisation Plus & Malaria Progress by Accelerating Coverage and Transforming Service; the Sustainable Procurement, Environmental and Social Standards Enhancement Project; the Power Sector Recovery Programme for Results Project; the Second Africa Higher Education Centers of Excellence for Development Impact Project and the Rural Access and Agricultural Marketing Project.

The Multi-Sectoral Crisis Recovery Programme for Lake Chad Recovery and Development (PROLAC) – Additional Financing; the Nigeria Covid-19 Preparedness and Response Project; the Edo State Basic Education Sector and Skills Transformation Operations; the Adolescent Girls Initiative for Learning and Empowerment Programme (AGILE) Project; the Nigeria Digital Identification for Development Project; the Nigeria Digital Identification for Development Project; and the Nigeria Climate Adaptation Erosion and Watershed Project were also listed among the beneficiary projects.

The DMO did not state why the funds had not been disbursed. However, some of the lending agencies disburse funds as agreed milestones or conditions are reached.

Share this:

  • Facebook
  • X

Like this:

Like Loading...
Tags: Debt Management OfficeForeign LoansNigeria
Previous Post

Libya’s powerful interior minister survives assassination attempt

Next Post

NAFDAC To Shut Substandard Sachet Water Factories

Eucharia Egwuma

Eucharia Egwuma

Related Posts

Ghana’s Kofa Secures $8.1M Pre-Series A Funding to Drive Clean Energy Access Across Urban Africa

Ghana’s Kofa Secures $8.1M Pre-Series A Funding to Drive Clean Energy Access Across Urban Africa

by Iyanu Ale
May 2, 2025
0

Ghanaian energy tech startup Kofa has successfully raised $8.1 million in a pre-Series A funding round to scale its AI-powered...

South Africa’s CureRoot Leverages AI to Unlock New Medicines from African Medicinal Plants

South Africa’s CureRoot Leverages AI to Unlock New Medicines from African Medicinal Plants

by Iyanu Ale
April 28, 2025
0

South African startup CureRoot is pioneering a new frontier in pharmaceutical innovation by harnessing artificial intelligence (AI) to discover novel...

Next Post
NAFDAC Warns Traders against Use of Sniper to Preserve Foodstuffs

NAFDAC To Shut Substandard Sachet Water Factories

Please login to join discussion

Recommended

Covid-19: Delta Air Lines Resume Operations in Lagos

Covid-19: Delta Air Lines Resume Operations in Lagos

4 years ago
Grammys 2021: Burna Boy and Wizkid win at music awards

Grammys 2021: Burna Boy and Wizkid win at music awards

4 years ago

Popular News

    Connect with us

    Tags

    #EndSARS 2023 Elections 2023 polls 2023 Presidency ACCIDENT Africa All progressives Congress APC Asiwaju Bola Tinubu Babajide Sanwo-Olu CBN Central Bank of NIgeria Central Bank of Nigeria (CBN) Coronavirus pandemic Covid-19 Covid-19 in Lagos Covid-19 in Nigeria Covid-19 Vaccine Cryptocurrency Economic and Financial Crimes Commission EFCC Federal Government Federal Government of Nigeria Fraud Gov. Sanwo-Olu House of Representatives Lagos-Ibadan expressway Lagos state Lagos State Government Lagos State House of Assembly Lagos State Police command Muhammadu Buhari Murder Naira NDLEA Nigeria Nigeria Customs Service Nigerian Economy Nigeria Police Force Rape Strike action TECH UK United Kingdom US

    News

    Opinion

    © 2020 The Lagos Today - Nkali.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    No Result
    View All Result

    © 2020 The Lagos Today - Nkali.

    %d