Comments on: Fed Govt seeks fresh $750m World Bank loan https://thecitizenng.com/fed-govt-seeks-fresh-750m-world-bank-loan/ Nigeria's leading online newspaper Sun, 15 Nov 2020 02:20:15 +0000 hourly 1 https://wordpress.org/?v=6.9.7 By: Dr. Akinyele Eric Dairo https://thecitizenng.com/fed-govt-seeks-fresh-750m-world-bank-loan/#comment-41990 Sun, 15 Nov 2020 02:20:15 +0000 https://thecitizenng.com/?p=194112#comment-41990 It is great that Nigeria, through the Federal Steering Committee of the Nigeria COVID-19 Action Recovery and Economic Stimulus (N-CARES), is planning to stimulate the local economy and support vulnerable household consumption. However, we should consider securing the loan from local bonds rather than from external sources. Proceeds from local bonds or loans will be used to further develop the local economy unlike proceeds paid to external sources.

A good indication that local sources can support this loan is the over-subscription of the last Federal Government of Nigeria Roads Sukuk Bond of N150.0 Billion. It was oversubscribed more than 400%, which means there was over four times money for loan than the Government required.

]]>