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World Bank approves $1.57bn loan for Nigeria

Prince Odutola3 months ago3 months ago02 mins

The World Bank has approved a $1.57 billion financing package for Nigeria under a new programme to support its health and education sectors and help provide sustainable power, the bank said on Monday. The World Bank is the largest lender to Nigeria, with more than $15 billion in loans at the end of March, data from the Debt Management Office showed. The bank said in a statement that the money would help increase availability and effectiveness of financing for basic education and primary healthcare service delivery. “The new financing includes $500 million for addressing governance issues that constrain the delivery of education and health, $570 million for the Primary Healthcare Provision Strengthening Program and $500 million for the Sustainable Power and Irrigation for Nigeria Project,” the bank said. Nigeria is among countries with the highest number of out of school children mainly due to insecurity, especially in the north of the country where a long-running Islamist insurgency and armed kidnapping gangs have caused havoc. The World Bank said part of the money would be used to improve dam safety to protect people from floods. Nigeria faces frequent flooding and this year up to a million people were affected after a dam in northeastern Borno state burst. More floods are expected in Nigeria after authorities in Cameroon started releasing water from a large dam to prevent it from overflowing.

Sporting Lagos goalie joins Danish club on loan

Prince Odutola3 months ago3 months ago01 mins

Sporting Lagos FC goalkeeper Christian Nwoke has joined Danish second division side, Aarhus Fremad on a loan deal. The Lagos-based club posted this on its social media fields on Friday. The posted stated; Sporting Lagos and Aarhus Fremad are excited to announce the loan of goalkeeper Christian Nwoke. “This move is a significant milestone in our partnership and a glimpse of what’s to come, as we stay committed to being a pathway for nurturing talent. “And we couldn’t be prouder that Christian, with his standout performances — from season-defining penalty saves to game-changing moments — is leading the way. “Have a great one, Spiderman!” Aarhus Fremad plays in the Danish 2nd Division, the third tier of the Danish football league system. The club competed in the lower divisions of Danish football until 1997, when the club miraculously reached the Danish Superliga after nine promotions in 13 seasons.

Osimhen pens Galatasaray loan deal

Prince Odutola4 months ago4 months ago01 mins

Super Eagles forward Victor Osimhen has officially signed with Turkish giants Galatasaray. The deal, finalized today, sees Osimhen joining the club on a loan from Napoli. Osimhen’s transfer to Galatasaray comes after a challenging summer, during which negotiations with other clubs, including Al-Ahli and Chelsea, fell through. The 25-year-old forward will wear the number 45 jersey for Galatasaray and is set to play in the Turkish Süper Lig until June 2025. The Turkish club has agreed to cover his annual salary of €11 million for the duration of the loan. This move reunites Osimhen with former Napoli teammate Dries Mertens, who played a role in encouraging the transfer. Upon his arrival in Istanbul, Osimhen was warmly welcomed by Galatasaray fans, expressing his excitement about joining the club and his eagerness to contribute on the field.