Monday, June 22, 2020

China and Nigeria's Debt

Nairametrics.com posted on 20 June 2020 an article titled "DMO Discloses Facts about Chinese Loans to Nigeria, States Terms of the Loans" by Chike Olisah.

The government of Nigeria released useful and detailed information on the amount of debt it has with China.  As of 31 March 2020, Nigeria's loans from China totaled $3.121 billion or just over 11 percent of total external debt stock.

Nigeria is not one of those African countries deeply indebted to China as is the case, for example, with Djibouti and Angola.  In fact, China holds a small or modest amount of debt for most African countries.  In discussing the role of China in African debt, it is critical to look at the situation in each African country.