Nigeria secured a record $2.8 billion loan from Chinese lenders in 2017

Key takeaways

  • Nigeria has received $9.4 billion dollars in Chinese loans across different sectors since 2002
  • The highest loan inflow was in 2017, with $2.8 billion, mainly for transportation and energy
  • Transportation projects received the most funding, with notable amounts in 2017 ($2 billion) and 2019 ($1 billion)
  • Loan inflows dropped significantly after 2017, with no borrowings between 2020 and 2022, and $973 million in 2023

Nigeria's borrowing from China has been driven primarily by infrastructure projects, especially in transportation. The peak year was 2017, when $2.8 billion was announced, but loan amounts have declined since. Sectors like ICT and energy have received funding, but at much lower amounts than transportation.

Source:

Boston University Global Development Policy Center

Period:

2002-2023
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