ABUJA, Nigeria — The World Bank has approved a $2.25 billion loan for Nigeria to shore up revenue and support economic reforms that have contributed to the worst cost-of-living crisis in many years for Africa’s most populous country.
The World Bank, however, said it was “critical to sustain the reform momentum” under Tinubu. The government’s economic policies have placed the country “on a new path which can stabilize its economy and lift its people out of poverty,” according to Ousmane Diagana, the World Bank vice president for Western and Central Africa.
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