The Federal Government of Nigeria under the leadership of President Bola Ahmed Tinubu has received a $2.25b foreign exchange support facility from the African Import-Export Bank (Afrexim).
The development was confirmed by the Minister of Finance, Wale Edun, in an interview on Arise Television.
The Minister noted that the loan was aimed at finding solutions to the acute Foreign Exchange shortage that has hampered the country’s economy.
According to Edun, the loan is the first tranche of the $3.3bn facility from the bank. The balance of $1.05bn will be received in the first week of January.
