This was made known in a series of tweets by the Federal Governmentâ€™s official twitter handle â€“ @AsoRock
â€œNigeria External Borrowing Plan -low-cost, long-term loans (1.25% interest; 20yr tenor)- approved by FEC. Now awaitingÂ approval of National Assembly.
The (concessional) External loans will be provided by institutions like World Bank, African Development Bank, China Exim Bank, andÂ Japan International Cooperation Agency.
Apart from these loans, there will also be a FGN Eurobond offer (details in due course).
The External borrowing will be directed at the following sectors: Agriculture, Power (esp. Transmission) Mining Development, and Healthcare,â€ it announced.