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Afrinvest explains Nigeria’s indebtedness to China

The impact of investments from China to Nigeria is hardly felt because the wrong financing options are selected.

This was the view of Afrinvest in a report titled; Understanding Nigeria’s indebtedness to China.

According to the report, Nigeria’s indebtedness to China has recently come into sharp focus due to concerns about who truly benefits from China’s infrastructure investments in developing economies through direct loans, especially given stringent conditions that could mean handing over sovereign assets to the country in the event of a default.

Afrinvest further noted that the concerns about Chinese lending are also not helped by the usual lack of transparency around them, much unlike commercial debt obtained from the Eurobond market and multilateral debt sourced from institutions such as the World Bank, the International Monetary Fund (IMF) and African Development Bank (AfDB).

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