Nigeria: Why China Withholds $20 Billion Concession Loan to Nigeria

9 January 2017

Abuja — Multiple negative growth recorded in the economy in 2016 has been identified as one of the reasons the Chinese government withheld a $20 billion concession loan earlier promised Nigeria upon due verification, The Guardian has learnt.

A top Presidency source privy to the development told The Guardian that the Federal Government had been hopeful that the Chinese government would release the loan last year, given the relationship between the two countries, but expressed disappointment that the money was withheld.

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