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The Federal Executive Council has approved an application to secure a budget support loan worth $1.5 billion from the World Bank and an additional $80 million from the African Development Bank .
Edun said the funds will be utilised for various projects in crucial sectors of the nation’s economy. He added that Nigeria qualified for the “relatively cheap” loans given its “macro-economic moves” in the past couple of months since President Bola Tinubu assumed office.
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