No plans to publish $5bn Abu Dhabi loan details, says Oyedele

Finance minister Taiwo Oyedele has rejected calls for the Federal Government to disclose how it plans to spend funds from its $5bn financing facility with First Abu Dhabi Bank. According to Punch Newspapers, Oyedele said at an Abuja briefing on Wednesday that the facility, approved by the National Assembly on March 31, 2026, was being unfairly singled out despite similar treatment given to World Bank and Eurobond loans.

The government has already drawn $1.5bn of the $5bn Total Return Swap facility, despite IMF and Fitch Ratings concerns over transparency. Oyedele said FAQs on the transaction would soon be published.