SERAP urged Mr. Malpass and the World Bank to reopen discussion on the reportedly approved $800m loan with the incoming administration to clarify the details on the rationale and use of the loan.
They argued that the term of office of the government of President Muhammadu Buhari ends in May 2023.
The Federal Government in April announced its plan to spend the $800 million loan as ‘part of its subsidy palliatives measures’. Also, last week, President Buhari requested the Senate’s approval for the World Bank loan. It is unclear whether the request to the Senate is for a fresh loan or the one announced in April.
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