Federal Government’s borrowing from China has grown by 209.15 per cent under the Major General Muhammadu Buhari (retd.) administration. This is as total bilateral loans rose by 219.91 per cent from $1.58bn as of June 2015 to $5.07bn as of December 2022. Total borrowing from China rose from $1.39bn to $4.29bn in the period under review. Available data from the Debt Management Office revealed that Chinese loans make up 84.73 per cent of the total amount Nigeria owes to other countries of the world. The remaining 15.27 per cent is…
Read MoreChinese Loans Rise By 209% Under Buhari, Hit $4bn
