World Bank Vice-President for Africa, Hafez Ghanem has said that the bank is currently in talks with the Federal Government for a two point five billion dollars concessionary loan.

World Bank Vice-President, Hafez Ghanem, And Vice-President Yemi Osinbajo

Ghanem who made this known in Abuja, recalled that Nigeria received two point four billion dollars from the bank in 2018.

He said the World Bank would support Nigeria’s digital transformation because of its potential ability to transform other areas of the economy including industry, agriculture and services.

The Debt Management Office, DMO latest figures showed that Nigeria’s debt rised by five hundred and sixty billion naira between December 2018 and March 2019.

In March 2019, the total foreign debt stood at seven point eight trillion naira, about twenty five point six billion dollars while domestic debt was seventy trillion naira approximately fifty five point six billion dollars.