Nigeria says switching to foreign debt to lower costs

By Chijioke Ohuocha LAGOS (Reuters) - Nigeria will increase the amount it borrows overseas to around 40 percent of all debt over the next three to five years, from 12 percent currently, to lower its cost of funds, the head of the debt office said on Monday. DMO Director General, Abraham Nwankwo, said he expected Nigeria's debt to GDP ratio to fall to 17 percent over the same period from 21 ...
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Added May 20, 2013
from Yahoo Nigerian News