•No formula to end fuel subsidy for now – MinisterJohn Ameh, AbujaThe Federal Government will take another fresh external loan of $247.3m for the development of infrastructure, despite the country’s rising debt profile. Briefing State House correspondents after the meeting rose, the Minister of Finance, Mrs Zainab Ahmed, gave a breakdown of the fresh loan. First, it approved a $150m loan facility from AfDB and $50m loan from African Grow Together Fund to finance the Nigerian electrification project. “The second approval is the North Core Dorsal Regional Transmission Project. The intention is for the creation of a regional power pool in the region of West Africa.

Source: Punch April 18, 2019 02:26 UTC