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With Naira Sinking, Nigeria in Talks for Up to $1.5 Billion of Aid

Nigeria is discussing as much as $1.5 billion of World Bank funding to help ease a severe dollar shortage that has contributed to the naira’s steep decline.

“We’re hoping to get $1 billion or $1.5 billion from the World Bank” for budgetary support, Finance Minister Wale Edun said Wednesday in a Bloomberg Television interview with Francine Lacqua. “It is a matter of discussion at the moment, but we think we will get the support because we are continuing with our reforms.”

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