NIGERIAN MILITARY JET CRASHES IN NIGER. (PHOTO).

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 Nigerian military jet crashes in Niger A Nigerian Air Force (NAF) Alpha Jet has reportedly crashed near Karabonde, Borgu Local Government Area of Niger State, on Saturday evening, December 6. Unconfirmed reports from local sources clam that the two pilots onboard survived the incident after successfully ejecting from the aircraft. A Niger state-based digital television network, Lapai TV, announced the tragic incident  in a post on its official Facebook account on Saturday evening, December 6. The post, accompanied by a one-minute video, read, “Two Nigerian Air Force Pilots Reportedly Survive Alpha Jet Crash Close to Karabonde, Borgu Local Government Area of Niger State”. It was reported that the two pilots successfully ejected before the aircraft went down. Meanwhile, the Nigerian military has yet to make any official statement concerning about the crash as of the time of filing this report.
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FG APPROVES $3.45BN WORLD BANK LOAN TO BOOST POWER AND OTHER SECTORS.(PHOTO).

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 FG approves $3.45bn World Bank loan to boost power and other sectors.


The Federal Executive Council (FEC) has approved a $3.45bn World Bank loan application for the financing of five items.


Mr Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, disclosed this after the FEC meeting in Abuja on Monday, Oct. 23.


He said the council approved the loan request during its meeting at the State House, adding that the Federal Government would begin to receive the $3.5bn “zero-interest” loan.


According to him, the loan is payable within 40 years with a 10-year moratorium which means payments would start from 2033.


“Today at the Federal Executive Council, I presented five memos which were gracefully approved by the Council. They had to do with concessional and, in many cases, zero-interest financing by the World Bank and the International Development Association, which is the very concessional financing arm,” he told State House Correspondents.


“The projects that were approved for funding were in the power sector and then the renewable energy sector. There was funding for states for resource mobilisation programmes to help them with the internally-generated revenue efforts.


“There was a project for adolescent girls’ initiative for learning and empowerment. And then finally the fifth financing that was approved was for Women project.”


“So, those were five loans totalling $3.45 billion. And as you know, the tenure is all around 40 years, with a moratorium period of around 10 years and interest very low, or in the cases of either loans, zero interest. However, some fees would be incurred,” he added.


During the briefing, the Minister of Humanitarian Affairs and Poverty Alleviation, Betta Edu, also said FEC approved the creation of a Humanitarian and Poverty Alleviation Trust Fund.


The minister said the Fund will help the Federal Government respond promptly to humanitarian situations in Nigeria and that the government hopes to raise at least $5 billion annually into it.

 

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