DMO: Nigeria’s debt to China’s EXIM Bank hits $3.714bn

Public debts

DMO: Nigeria’s debt to China’s EXIM Bank hits $3.714b Pays $391.66m interest Repays $449.89 principal $1.267bn railway loan largest debt burden   Nigeria’s total debt to China contracted through China Export- Import (EXIM) Bank and drawn down stood at $3.714 billion as at December 31, 2020. Debt Management Office (DMO) confirmed the figure on its website. About $449.89 million has been repaid from the principal and $391.66 million as interest with an outstanding of $3.264 billion. The Nigerian Railway Mordernisation Project (Lagos – Ibadan section) loan of $1.267 billion, which…

Read more