Nigeria Seeks $1.5B World Bank Loan to Support Reforms Despite Public Backlash
- Nigeria's cabinet approved a proposed $1.5 billion loan from the World Bank
- The loan aims to support key policy reforms by the government
- The reforms include scrapping petrol subsidy and lifting FX restrictions
- The reforms have worsened inflation, fueling public anger
- Separately, Nigeria approved an $80 million African Development Bank loan for a youth project
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