Nigeria in talks with African Development Bank for $1 bln loan

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ABUJA (Reuters) – Nigeria is in talks with the African Development Bank (AfDB) for a $1 billion dollar loan to help cover its 2016 budget deficit, the finance minister said on Monday.

The loan would be concessional with an interest rate of 1.2 percent, Kemi Adeosun told reporters following a meeting with AfDB head Akinwumi Adesina.


(Reporting by Felix Onuah; Writing by Alexis Akwagyiram; Editing by Robin Pomeroy)


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