Nigeria’s Ebonyi State Seeks Federal Government Approval for USD 80 Million Financing Facility from the IsDB

Nigeria’s Federal Ministry of Finance, Budget and National Planning (MoFBaNP) has forwarded a request by the Ebonyi State Government (ESG) to the Federal Executive Council (FEC) to borrow USD 80 million from the Islamic Development Bank (IsDB).

Zainab Ahmed, Nigeria’s Minister of Finance, Budget and National Planning discussed this at a media briefing last week and stated that the MoFBaNP presented the request to the FEC on behalf of the Ebonyi state for the construction of the Abakaliki Ring Road, a road network linking thirteen local government areas within the Ebonyi state.

During the meeting, the Minister of Finance stated that the Federal Government of Nigeria would...