The Federal Government of Nigeria is currently servicing one hundred and eight World Bank loans worth $14.12 billion.
According to Punch, the oldest loan being serviced was approved as far back as 1989 under Gen. Ibrahim Babangida, while the most recent loan being serviced was approved in 2018 under the former president, Muhammadu Buhari.
The oldest loan is the $100.9m Multistate Agricultural Development Project (03), which was approved to support the implementation of the state-wide Agricultural Development Projects, to increase food/crop production and the income of small farmers.
According to the platform, although the principal amount for the project was placed at $100.9m, a total of $106.7m was disbursed.
Loans approved in 2018 were being serviced, disbursing funds, as they were categorized under ‘Disbursing & Repaying’.
One of such loan was the $125m fiscal governance and institutions project, which was approved on June 27, 2018.
It was also noted that about $40.17m had…