But China is still the biggest bilateral lender in Nigeria, with most loans being concessional. Besides China, Nigeria is indebted to the International Development Association (IDA) to the tune of $9.68 billion, African Development Bank (AfDB), $1.3 billion, and $10.86 billion from Eurobonds. The biggest question, however, is whether China’s loans agreements can be available for scrutiny or if their conditionality can be listed in public. He said that the investigation could cause foreign partners to withdraw such loan facilities which have negative effect on Nigeria’s infrastructural development. Minister of Information and Culture, Mr Lai Mohammed, also replied critics, that Nigeria is confidently meeting its loan obligations.

Source: Daily Nation July 30, 2020 14:50 UTC