The Federal Executive Council on Wednesday approved the request
of the Minister of Finance, Dr. Ngozi Okonjo-Iweala, to obtain a $300m
credit facility from the International Development Association housing
projects in the country.
The council, presided over by President Goodluck Jonathan, also
approved the applications of 174 foreigners who sought Nigerian
citizenship.
The Minister of Information, Mr. Labaran Maku;
Minister of Interior, Mr. Abba Moro; and the Minister of State for
Finance, Dr. Yerima Ngama, briefed State House correspondents on the
outcome of the meeting.
Ngama said the council approved that
Okonjo-Iweala should execute the interest-free financing agreement that
would be repaid over 40 years on behalf of the Federal Government, while
the Attorney-General of the Federation and Minister of Justice, Mr.
Muhammed Adoke, would issue the legal opinion required to formalise the
project.