OPEC member Nigeria looking to fund power, transport and road infrastructure projects with cheap money
Nigeria, an OPEC member and Africa’s largest economy, is looking to international institutions in order to fund its record-setting 2016 budget. With approximately 35% of GDP, 75% of government revenue and 90% of export earnings coming from oil, the continued low price of crude oil has led Nigeria to seek out $3.5 billion in loans from the World Bank and African Development Bank.

Source: U.S. State Department

Low oil prices have already ...

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