The Federal Government on Friday received a $2.25b foreign exchange support facility from the African Import-Export Bank.
The Minister of Finance, Wale Edun, confirmed this to Arise TV.
He said it was the first tranche of the $3.3bn facility from the bank.
He noted that the loan was aimed at resolving the acute FX shortage that had hampered the economy.
According to the report monitored by our correspondent, the balance of $1.05bn would be received in the first week of January.
Edun stated that work has commenced for solutions to Nigeria’s economic challenges.
In August, the Nigerian National Petroleum Company Limited announced that it had secured a $3bn emergency loan from the Afrexim Bank to stabilise the country’s volatile foreign exchange market.
Stay ahead with the latest updates! Join The ConclaveNG on WhatsApp and Telegram for real-time news alerts, breaking stories, and exclusive content delivered straight to your phone. Don’t miss a headline — subscribe now!
