Loans From China Now $3.59bn, Says DMO

 

The Debt Management Office has clarified that loans from China to Nigeria, which presently stood at $3.59bn, constitutes only 9.4 per cent of the country’s total foreign debt stock of $37.9bn.

The Director-General of DMO, Ms Patience Oniha, made this known in an interview with the News Agency of Nigeria in Abuja.

She also clarified that the loans were largely concessional, as no national asset was tagged as collateral.