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FG to obtain $124.2million loans for water projects

admin | November 6, 2020

The Federal Executive Council has approved the obtaining of $104.2m and $20m loans from two international financial institutions for the development of water projects in Nigeria.

Spokesperson of the Federal Ministry of Water Resources, Kenechukwu Offie, disclosed this in a statement on Thursday, November 5, in Abuja.
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According to her, “The Federal Executive Council at its meeting of November 4, 2020, approved to obtain loans of $104.2m from African Development Bank and $20m from African Growing Together Fund to finance Nigerian Urban Water Reform and Akure Water and Sanitation Project.
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The project aims to provide sustainable access to safe drinking water for the residents of Akure city and its environs.”

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