Nigeria owes China $ 3 billion (1.2 trillion N) in debt as of 2020 – World Bank



           

According to the World Bank, Nigeria had borrowed $ 3,121 million (1.236 trillion N) from China as of March 2020. This amount represents only 3.94 percent of Nigeria’s total public debt of $ 79.21 billion as of September 2021.

As for external sources, at the same time, loans from China accounted for 11.28 percent of the $ 27.67 billion external debt portfolio. According to the World Bank, the total amount of borrowing from China is 3,121 million.

President Muhammadu Buhari recently sought the approval of the National Assembly to borrow the sum of $4,054,476,863 billion and €710 million



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