Nigerian Govt Seeks U.S.$1 Billion Loan for Power Sector Again.

Apart from the accumulation of 2.74 trillion Naira the Nigerian government under the watch of President Olusegun Obasanjo, President Umar Yaradua and Goodluck Jonathan have differently spent on the development of the Power sector, Federal government have commenced discussion with the World Bank with the hope of taking a $1 billion loan.

The Minister of Finance, Mrs. Zainab Ahmed made this disclosure at the press briefing marking the end of the 2019 Spring Meetings of the World Bank and the International Monetary Fund, IMF, in Washington DC, USA, yesterday.

Meanwhile, The Federal Government have allegedly spent another 900 billion Naira within the last four years through the ministry of Power and Steel, under the watch of Babatunde Fashola.