Veteran Nollywood actor cum politician, Kenneth Okonkwo has berated the ruling All Progressives Congress (APC) over Nigeria’s debt profile.
Naija News recalls that the World Bank Group recently approved a loan of $750m to boost Nigeria’s power sector.
The loan with project ID P174622 was approved on June 9, 2023, making it the first World Bank loan approved under the new administration of President Bola Tinubu.
Information obtained from the website of the bank showed the fresh loan as additional financing for the Power Sector Recovery Performance-Based Operation, which was first approved on June 23, 2020.
The global financial institution has also approved a $500m to help Nigeria drive women’s empowerment.
The loan is a scale-up financing for Nigeria for Women Programme, which was initially approved on June 27, 2018, with $100m financing.
A statement by the World Bank read in part, “The World Bank has approved $500m for Nigeria for Women Program Scale Up (NFWP-SU). The scale-up financing will further support the government of Nigeria to invest in improving the livelihoods of women in Nigeria.”
Speaking in a recent post via his Twitter handle, Okonkwo opined that the APC constantly borrows money before thinking of what to do with it
He wrote, “APC is so incompetent and dishonest that it borrows money before thinking of what to do with it. Nigeria is now living in bondage of debts. God please deliver us”
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