The Nigerian Senate has approved the $500 million World Bank loan request by President Bola Tinubu.
The loan is for the production of electricity meters for the citizens.
The Bureau of Public Enterprises (BPE) was granted the funds following a thorough review of the report by the Committee on local and foreign debts, which was presented by Senator Haruna Manu, who serves as the Vice Chairman of the Committee.
On November 1, 2023, President Bola Tinubu requested Senate approval for a $7.94 billion World Bank loan package, which included a $500 million loan.