Index to Nigerian Newspapers

Former commissioner of finance, lmo state, prof uche uwaleleke, has advised federal government to ensure that the anticipated $1.5 billion concessionary, budget- support loan is chaneled into capital  expenditure and not recurrent. '' But if it has come with a lot of conditions especially to do with a lot of copnditions especially to do with the implementation of IMF /world bank recommendations in relation to ongoing reforms in nigeria or it is going to be used for cash transfers or applied to non-capital projects, then it only ends up compounding our economic woes'', he explained. the minister of finance, budghet and national planning, mr wale edun,at the  weekend, said that world bank will soon release the $1.5billion concessionary loan to support budget funding. he made the disclosure at a press briefing on the annual meetings of the world bank and lnternational monetary fund federal executive council on monday today, to  secure approval. he added that te facility comes with a near- zero intterest, which provides a soothing relief over mounting sovereign debt and debt servicing.