Nigeria Approves $4.5bn Refinancing Deal to Support Naira

Nigeria Approves $4.5bn Refinancing Deal to Support Naira

Nigeria’s National Economic Council approved a $4.5bn crude oil-backed loan refinancing deal to defend the naira. The new credit package replaces the $3.3bn pre-export finance deal from 2023 under Project Gazelle. The transaction allocates $1.5bn to settle existing obligations from the previous agreement. The central bank receives the remaining $3bn directly to rebuild national external…

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FG Establishes 112 As Unified National Emergency Lifeline

FG Establishes 112 As Unified National Emergency Lifeline

Nigeria is dismantling its fragmented emergency response systems in favour of a single communications framework. The federal government has resolved to roll out 112 as the sole national emergency telephone number across all tiers of government. Vice President Kashim Shettima finalized the operational roadmap during a high-level briefing with the Nigerian Communications Commission at the…

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