The African Import-Export Bank provided the Federal Government with a $2.25 billion foreign exchange support facility on Friday. Wale Edun, the Minister of Finance, confirmed the receipt of the initial $2.25 billion as the first portion of a $3.3 billion facility aimed at addressing the economy’s severe FX shortage.
He mentioned that the remaining $1.05 billion will be obtained in early January, as reported by our correspondent.
Edun highlighted that efforts are underway to tackle Nigeria’s economic challenges, emphasizing that solutions have already been set in motion.
Back in August, the Nigerian National Petroleum Company Limited had announced securing a $3 billion emergency loan from Afrexim Bank to stabilize the country’s fluctuating foreign exchange market.
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