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Inside details of Nigeria’s $29bn borrowing plan

…interest payments to gulp $573m per-annum …China to provide 76% of loans

A rare breakdown of how Nigeria intends to spend a $22.7 billion (N6.9 trillion) loan that still awaits approval of lawmakers shows the government will spend over half a billion dollars each year in interest payments for an average of 21 years. The $22.7 billion loan is the final tranche of a $29 billion infrastructure…

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