Nigeria, April 22 -- Nigeria's Finance Minister, Wale Edun, has disclosed that the nation has qualified to process and secure a $2.25 billion loan from the World Bank.

Mr Edun disclosed this during a joint press conference of the Ministry of Finance and the Central Bank of Nigeria (CBN) at the spring meetings of the International Monetary Fund (IMF) and the World Bank in Washington, D.C.

The loan, if secured, could provide crucial support to Nigeria's economic recovery efforts amidst ongoing challenges.

The World Bank offers low-interest loans, zero-interest credits, and grants to eligible governments to help develop their economies.

According to the minister, the proposed package offers an extended repayment period of 40 years, inclu...