Federal Government approaches China for 17billion dollars loans.

The Federal Government has explained why it decided to approach the China-Exim Bank for a $17billion dollar loan request.

It said other lending institutions like the World Bank and the African Development Bank were not showing much interest when Nigeria approached them during the recession.

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The Minister of Finance,  Zainab Ahmed,  stated this in the Senate while defending the decision of President Muhammadu Buhari led the government to borrow a $29.96 billion dollar loan to fund critical infrastructure across the country.


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