The debt management office (DMO), which is under the finance ministry, says Nigeria will easily repay the loan of $29.9 billion in 30 years if it succeeds in getting it.
In a statement on Tuesday, Festus Akanbi, spokesman for the minister of finance, said Abraham Nwankwo, director-general of the DMO, provided clarifications on the proposed foreign loans while speaking on Sunrise Daily, a Channels TV live program.
Last week, President Muhammadu Buhari sent the proposal to the national assembly for approval, but the senate rejected it on Tuesday.
Nwankwo explained that the loans, which will cover a period of three years, would help in addressing the biting infrastructure deficit in the country.
“When you are in this kind of economic situation, you have to decide where you want to start addressing the problem,” he said.
“You then come to the conclusion that the most critical point to start is to deal with infrastructure problem. If you deal with infrastructure problem, the cost of power will be lower, the cost of transportation will be lower, and the cost of most other services will be lower.”
According to him, one of the features of the proposed loan is the low concessionary nature of the interest rate, which is fixed at 1.5 per cent.
He said this arrangement differed from previous loan arrangements with the Paris Club of creditors, which came with floating interest rates as high as 18 percent.
He also explained that the facility would help to revive infrastructure like railways which will smoothen movement of heavy goods across the country.
He said tackling infrastructure deficit would force down costs of goods and services in the long run, emphasizing that the development would have a significant impact on the price level in the economy.
“That impacts the economy by bringing down the general price level, (they call it the consumer price index, which is a classical measure of the price level and the rate of inflation.),” he said.
“When you do this, the Central Bank of Nigeria will set the monetary policy rate low, because all over the world, the central bank knows it has to put the monetary policy rate high enough to catch up with inflation rate, otherwise we will be talking about negative real rate of interest which destroys the economy.
“So the way to go about it is that you have adequate infrastructure, power road, transportation ICT. All these make the cost of production in the economy much lower and when this happens, the cost of goods and services will be lower and then inflation will start coming down. And if inflation comes down, the monetary policy rate will be lower and this will translate to a lower lending rate. That is the sequence.”
He said, “the $30bn was actually for a three-year-period and that it would run from 2016-2018, and to be repaid in 20-30 years time.”
He said, “with this arrangement, it will not be difficult for the country to repay”.
Speaking on how the $30bn would be spent, Nwankwo stated that $10bn would be spent per annum for three years and that it would be targeted at building infrastructure in all states of the federation, adding that the main focus would be on power generation, rail and road renovation, and construction.
order lanoxin purchase lanoxin molnupiravir 200 mg pills
diamox order online order azathioprine 25mg for sale buy imuran 25mg pill
order digoxin generic purchase molnunat online cheap oral molnupiravir 200 mg
generic amoxil 500mg stromectol 6mg oral ivermectin tablets uk
carvedilol 25mg for sale buy oxybutynin online cheap brand amitriptyline 10mg
order dapoxetine pill domperidone cheap domperidone sale
order generic alendronate 35mg cost alendronate motrin us
buy indocin sale purchase cenforce sale cenforce 100mg uk
order nortriptyline 25 mg for sale paxil 10mg canada order paxil 20mg pills
buy doxycycline 200mg doxycycline 100mg price medrol 16mg tablets
cost famotidine 40mg remeron 30mg brand remeron 30mg usa
buy generic tadalafil 20mg trimox 250mg brand buy trimox generic
buy ropinirole 1mg generic calcitriol price brand labetalol 100 mg
brand fenofibrate 160mg brand sildenafil buy viagra without prescription
purchase esomeprazole generic buy furosemide without prescription furosemide price
cialis 5mg generic tadalafil without prescription female viagra pill
order minocin 100mg generic terazosin online terazosin 5mg uk
buy tadalafil 10mg for sale generic viagra non prescription ed pills
buy glucophage 1000mg online calan online order nolvadex generic
order provigil 100mg online cheap purchase provigil sale promethazine 25mg pills
buy clomiphene lipitor 10mg uk order generic prednisolone 20mg
deltasone 40mg cost amoxicillin 1000mg price buy amoxil 250mg online
accutane 10mg for sale buy ampicillin 500mg pills ampicillin pills
fildena 100mg pill order generic pregabalin order finasteride 5mg sale
ivermectin 24 mg order prednisone 40mg order deltasone 40mg
buy zofran 8mg generic sulfamethoxazole brand buy trimethoprim generic
buy accutane 40mg brand accutane cost azithromycin 250mg
albuterol pill albuterol sale purchase amoxiclav pills
prednisolone 5mg without prescription order lasix 40mg pill order generic lasix 100mg
provigil canada order modafinil sale lopressor 50mg canada
monodox online acyclovir 800mg us oral acyclovir 400mg
buy avodart generic order generic xenical buy xenical generic
propranolol pills diflucan 100mg generic carvedilol over the counter
azathioprine 50mg tablet cheap imuran 25mg order naprosyn sale
cheap ditropan 5mg buy trileptal 600mg generic oxcarbazepine 600mg uk
cefdinir 300 mg oral order omnicef generic pantoprazole over the counter
cheap simvastatin 20mg purchase sildalis online cheap sildenafil otc
buy avlosulfon 100 mg online cheap buy mesalamine for sale oral tenormin
uroxatral 10 mg ca purchase desyrel online diltiazem 180mg drug
sildenafil over the counter viagra pharmacy tadalafil dosage
zetia 10mg brand buy zetia sale buy methotrexate 2.5mg for sale
order phenergan online buy real cialis order cialis 40mg sale
cheap warfarin 5mg order reglan allopurinol 300mg drug
levaquin online buy zyban 150 mg uk zyban 150mg pill
buy cetirizine 10mg for sale cetirizine 10mg for sale zoloft 100mg brand
cenforce 50mg oral buy cenforce pills order metformin 500mg without prescription
escitalopram 10mg pills lexapro 20mg for sale buy naltrexone for sale
order lipitor 20mg online cheap lipitor 80mg uk viagra next day delivery
buy letrozole online cheap where can i buy letrozole order sildenafil online
order tadalafil 40mg online cheap tadalafil free samples buy ed meds online
order modafinil 100mg pills oral deltasone 10mg deltasone 20mg drug
amoxicillin cost order generic zithromax 250mg order prednisolone 5mg generic
cost accutane 10mg order isotretinoin 40mg for sale order generic azithromycin
buy cheap generic neurontin neurontin 600mg sale doxycycline order
prednisolone pills lasix 100mg us furosemide 40mg tablet
purchase ventolin inhalator for sale levothroid over the counter synthroid price
clomid sale purchase hydroxychloroquine for sale hydroxychloroquine canada
doxycycline 100mg for sale order augmentin 625mg pill augmentin 1000mg for sale
tenormin 50mg ca buy femara sale buy femara sale
synthroid 150mcg generic buy levothyroxine generic levitra 20mg tablet
albenza 400 mg for sale order provera 5mg sale order provera 10mg pill
brand metformin 500mg buy atorvastatin 40mg sale oral amlodipine 5mg
biltricide oral periactin oral buy cyproheptadine medication
prinivil generic buy omeprazole online cheap metoprolol canada
pregabalin 75mg ca order lyrica 150mg for sale priligy 30mg usa
buy methotrexate 5mg without prescription buy methotrexate 5mg buy reglan 20mg for sale
xenical online cheap acyclovir 800mg allopurinol pills
losartan 25mg pills buy topiramate 100mg generic buy topiramate 100mg generic
rosuvastatin 20mg usa order domperidone 10mg pill domperidone 10mg usa
buy generic sumatriptan 25mg buy imitrex 25mg online cheap dutasteride online
sumycin 250mg for sale order lioresal online cheap buy lioresal generic
buy ketorolac pills for sale buy inderal cheap inderal us
ranitidine cost order zantac pill celecoxib order online
buy plavix 75mg online buy ketoconazole generic nizoral 200mg brand
buy flomax pill flomax 0.2mg without prescription purchase aldactone sale
order cymbalta 20mg generic cymbalta 40mg canada purchase nootropil generic
purchase betamethasone generic order sporanox buy sporanox generic
oral combivent 100mcg order ipratropium 100mcg without prescription buy linezolid 600 mg online cheap
progesterone 100mg pill buy tinidazole generic order olanzapine 10mg sale
starlix over the counter starlix 120 mg generic buy candesartan pill
bystolic over the counter cost clozapine 50mg cost clozaril
buy simvastatin online cheap valtrex 1000mg sale viagra oral
tegretol online buy purchase ciplox pills buy lincocin pill
order tadalafil 10mg without prescription 10mg cialis order viagra 50mg pill
buy cefadroxil pill finasteride buy online purchase proscar generic
fluconazole over the counter fluconazole usa cipro 500mg without prescription
generic estradiol 2mg minipress 1mg cheap buy prazosin 1mg
buy flagyl 200mg for sale order bactrim 960mg sale order keflex 125mg sale
buy vermox 100mg pills tadalis online purchase tadalis sale
order avana 100mg pills buy tadacip 10mg pill cambia price
nolvadex drug how to buy budesonide ceftin 500mg usa
indomethacin price lamisil pills purchase cefixime pill
buy generic amoxicillin 500mg buy amoxicillin medication oral clarithromycin
order careprost pill trazodone 100mg for sale desyrel 50mg cost
buy generic clonidine over the counter buy catapres 0.1 mg generic oral tiotropium bromide
suhagra 100mg tablet sildenafil usa buy sildalis
minocycline us purchase hytrin online cheap buy generic pioglitazone for sale
accutane 10mg oral buy generic amoxicillin for sale zithromax generic
arava 10mg cheap sildenafil price azulfidine 500mg uk
buy cialis 20mg online cheap cost of cialis cost tadalafil 20mg
purchase azipro buy generic azithromycin gabapentin 100mg usa
ivermectin 0.2mg oral stromectol 12mg deltasone 40mg tablet
lasix over the counter oral vibra-tabs buy albuterol tablets
buy altace 5mg for sale order amaryl pills order arcoxia 120mg generic
buy levitra medication plaquenil canada hydroxychloroquine 200mg uk
mesalamine 400mg for sale order asacol for sale order avapro
levitra drug where to buy zanaflex without a prescription generic hydroxychloroquine 200mg
order clobetasol buspar 5mg cheap buy cordarone 100mg sale
benicar drug benicar 20mg brand divalproex 500mg generic
clobetasol uk buspirone where to buy amiodarone 200mg usa
order acetazolamide 250 mg online cheap buy acetazolamide 250 mg online buy imuran 25mg for sale
purchase coreg online cheap buy chloroquine 250mg without prescription chloroquine uk
buy lanoxin 250 mg pills buy molnunat 200mg online cheap brand molnunat
Informative article, just what I was looking for.
My site free mp3 download
buy naprosyn online omnicef online buy lansoprazole 30mg online
albuterol online order pyridium online buy phenazopyridine 200 mg pills
I pay a visit every day a few websites and blogs to\r\nread articles, except this website provides feature based content.\r\n\r\nAlso visit my site : youtube to mp3
singulair us amantadine 100mg uk avlosulfon us
buy generic baricitinib order glycomet 1000mg generic order lipitor 10mg
buy adalat medication adalat ca fexofenadine where to buy
priligy sale dapoxetine online buy order xenical 120mg online cheap
lopressor cost buy metoprolol pills for sale methylprednisolone tablet
diltiazem cost where to buy zovirax without a prescription allopurinol 100mg tablet
buy generic triamcinolone loratadine 10mg sale buy claritin sale
ampicillin 500mg uk buy ciprofloxacin 500mg pills where to buy flagyl without a prescription
order sumycin 250mg pill order baclofen 10mg generic baclofen for sale online
ketorolac price colchicine 0.5mg pill order inderal 10mg online cheap
buy bactrim no prescription buy cleocin without a prescription oral cleocin 300mg
plavix 150mg cost warfarin usa buy medex without prescription
brand erythromycin 250mg cost nolvadex tamoxifen 20mg without prescription
order reglan 20mg buy metoclopramide 10mg pills buy nexium generic
buy rhinocort tablets buy budesonide buy bimatoprost cheap
buy generic topiramate buy imitrex without a prescription levofloxacin brand
buy methocarbamol generic methocarbamol order suhagra online
purchase avodart without prescription order ranitidine 300mg generic order mobic 15mg generic
purchase aurogra online sildenafil australia order estrace 2mg
buy celecoxib 100mg generic buy zofran pills buy ondansetron 8mg online cheap
lamictal 50mg us mebendazole 100mg pill minipress 2mg brand
oral spironolactone 100mg buy generic zocor 10mg buy generic valacyclovir online
proscar 1mg uk purchase viagra without prescription cheap viagra pill
order tretinoin cream for sale purchase avanafil pills avana 100mg sale
lamisil 250mg ca terbinafine over the counter purchase amoxicillin pill
buy antivert 25mg for sale buy antivert online cheap purchase minocin for sale
cost movfor molnupiravir 200mg over the counter order omnicef online
buy ed pills paypal cheap viagra pill cialis from canada
buy phenazopyridine pills for sale order montelukast 10mg pill symmetrel pills
buy terazosin generic pioglitazone 30mg without prescription tadalafil 20mg us
amiodarone pills carvedilol where to buy phenytoin 100mg us
buy tadalafil 40mg without prescription sildenafil 100mg for sale sildenafil 50mg tablet
zaditor price brand imipramine 25mg imipramine order
buy generic minoxytop cheap cialis online best ed pills
precose price repaglinide medication griseofulvin for sale
order aspirin 75mg pill buy lquin online purchase zovirax for sale
order generic melatonin 3mg brand meloset 3mg danazol without prescription
oral dipyridamole 100mg order dipyridamole pill pravastatin cheap
pill duphaston dydrogesterone cheap where to buy jardiance without a prescription
florinef 100mcg cheap buy florinef without prescription buy loperamide 2 mg online cheap
order etodolac for sale buy colospa without prescription pletal 100mg drug
prasugrel 10 mg pill order chlorpromazine 50 mg online cheap tolterodine without prescription
buy pyridostigmine 60 mg generic piroxicam 20mg oral rizatriptan 5mg cost
ferrous drug ascorbic acid online buy order betapace generic
vasotec 10mg tablet duphalac tubes buy duphalac without prescription
zovirax without prescription order capecitabine 500 mg for sale purchase exelon online cheap
buy premarin medication premarin without prescription sildenafil citrate 50 mg
prilosec pills order generic singulair 10mg heart attack prevention medication
cialis order online buy generic tadalafil canadian viagra online pharmacy
micardis 80mg pills buy hydroxychloroquine paypal how to buy movfor
order cenforce 100mg cenforce online buy chloroquine uk
modafinil 200mg canada oral modafinil 200mg prednisone 5mg usa
cefdinir 300 mg without prescription order glucophage 500mg sale where to buy lansoprazole without a prescription
how to get accutane without a prescription order amoxil 250mg generic buy generic azithromycin for sale
purchase azipro order omnacortil pills neurontin 100mg ca
order lipitor 20mg pill brand amlodipine 10mg buy norvasc 10mg online
casino online gambling order furosemide 100mg for sale order generic furosemide 100mg
slot machines albuterol us cost ventolin inhalator
purchase protonix pantoprazole buy online buy pyridium 200 mg online cheap
casino online gambling stromectol 3mg usa ivermectin medication
online blackjack with friends poker sites buy synthroid 150mcg pill
amantadine for sale online atenolol generic oral dapsone 100mg
clomid 100mg uk azathioprine pill buy imuran without a prescription
buy methylprednisolone uk brand triamcinolone 4mg triamcinolone us
levitra 10mg ca vardenafil uk tizanidine 2mg without prescription
phenytoin 100mg pills phenytoin 100mg pills ditropan price
cost perindopril 8mg order allegra 120mg generic fexofenadine 120mg usa
baclofen us order endep 10mg generic buy toradol
buy claritin pills for sale order loratadine 10mg pills order dapoxetine online cheap
how to get ozobax without a prescription ketorolac brand buy cheap generic toradol
purchase alendronate online cheap buy nitrofurantoin tablets macrodantin oral
buy propranolol pills inderal 20mg generic buy clopidogrel paypal
buy azelastine 10 ml for sale buy astelin no prescription buy avalide online cheap
buy nexium 40mg generic order remeron 30mg sale cost topamax 100mg
buy sumatriptan medication buy cheap avodart buy avodart 0.5mg for sale
allopurinol online buy how to get clobetasol without a prescription buy rosuvastatin no prescription
purchase ranitidine pill buy ranitidine 150mg sale celebrex 100mg drug
buspin over the counter purchase zetia pills cordarone over the counter
tamsulosin cost zocor 10mg ca buy zocor 20mg generic
motilium brand buy tetracycline online order sumycin 500mg sale
cheap spironolactone 100mg spironolactone online buy brand finasteride 5mg
buy essay now my family essay writing essays for sale online
fluconazole without prescription cost cipro purchase baycip generic
buy sildenafil generic buy estrace pill estradiol 2mg cost
buy flagyl 400mg for sale where can i buy septra cephalexin 500mg pill
brand lamotrigine 50mg order lamotrigine online vermox usa
buy cleocin pills erythromycin 250mg generic best erection pills
tretinoin cream tablet generic tadalis stendra online order
nolvadex tablet budesonide inhalers symbicort inhalers
purchase ceftin without prescription buy careprost for sale robaxin where to buy
tadalafil 20mg canada order indocin generic indomethacin 50mg price
terbinafine ca online casino slots free roulette online
aspirin without prescription no deposit bonus codes casino online usa
buy a custom essay free money no deposit slots roulette online
help with assignments australia my college application essay buy suprax online cheap
cost rocaltrol 0.25mg fenofibrate 200mg pill tricor buy online
trimox tablet arimidex price buy macrobid medication
expensive acne medication doctor prescribed acne treatment order oxcarbazepine 600mg without prescription
catapres 0.1mg uk order clonidine 0.1mg sale buy tiotropium bromide 9 mcg pills
alfuzosin 10 mg drug buy uroxatral generic can you cure gerd on your own
generic minomycin requip 1mg cost requip for sale
prescription sleep drug list drugs that affect hair growth online doctor weight loss medication
order femara generic letrozole for sale abilify medication
free nhs stop smoking service free stop smoking patches government alphabetical list of pain medications
cost medroxyprogesterone 5mg medroxyprogesterone online buy generic microzide for sale
pills that help herpes current pharmaceutical commercials oldest drugs that lower a1c
purchase periactin pill purchase periactin without prescription buy ketoconazole generic
best anti fungal supplement herbs that kill fungus most expensive blood pressure medication
order cymbalta 40mg pills buy modafinil without prescription provigil over the counter
stomach medicine 7 letters common bacteria that cause uti best online doctors for uti
purchase phenergan pills cheap promethazine ivermectin 6mg without a doctor prescription