Nigeria Not In Huge Debt: Adeosun Over $5.5 Bn Loan

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Minister of Finance, Mrs Kemi Adeosun, on Thursday, explained the rationale behind the Federal Government’s decision to borrow $5.5billion. Amid concerns raised by Nigerians about the nation’s foreign debt profile, Adeosun, who appeared on Channels Television’s Sunrise Daily, said: “we are not in a huge amount of debt.”

The minister’s statement comes more than two weeks after President Muhammadu Buhari wrote to the National Assembly, seeking the approval for $5.5bn external loans to finance the 2017 Appropriation Act. She, however, maintained that the country’s debt profile stands low when compared to developed nations.

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