Nigeria Senate Approves President’s $23 Billion Loan Request

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Nigeria’s Senate approved President Muhammadu Buhari’s plan to borrow $22.7 billion from external creditors to finance infrastructure projects.

Lawmakers gave their endorsement to the government during Thursday’s proceedings in the capital, Abuja, to seek the funding expected from the Islamic Development Bank, the African Development Bank, the World Bank and creditors in China, Japan and Germany.

To contact the reporter on this story: Dulue Mbachu in Abuja at dmbachu@bloomberg.net

– Bloomberg

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