About: http://data.cimple.eu/news-article/608e37c848aed786b956701d12aaf9ff51f3dfb93f3d46064c3fc648

Facets (new session)
Description
Metadata
Settings
- owl:sameAs
- Inference Rule:

About: http://data.cimple.eu/news-article/608e37c848aed786b956701d12aaf9ff51f3dfb93f3d46064c3fc648 Goto Sponge NotDistinct Permalink

An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

Attributes	Values
rdf:type	schema:NewsArticle
schema:articleBody	Nigeria's upper legislature approved a controversial $22.7 billion foreign loan request by President Muhammadu Buhari on Thursday to revamp the country's crumbling infrastructure. The move comes with Africa's largest oil producer nervously eyeing the impact of the global coronavirus outbreak on its revenues as crude prices have fallen. The request for the loan approval drew fierce opposition from some lawmakers who have voiced concerns about the weight of debt servicing and demanded the government provide details of the specific projects to be funded. Nigeria's government expects that the loan will be funded from the World Bank, the Islamic Development Bank, China's Eximbank, the African Development Bank, and lenders in Germany and Japan. Senate president Ahmad Lawan, from Buhari's ruling All Progressives Congress party, said the funds "would be spent on projects that would have impact on the lives of Nigerians". "We must ensure that no single dollar or cent is spent on any other thing outside of what has been indicated here and we pray that this loan will turn around the economy of Nigeria," he said. Nigeria is facing growing debt costs as it has turned to overseas lenders to fund key projects following a recession in 2016. The continent's largest economy has struggled to bolster growth after emerging from the downturn some three years ago and the IMF last month downgraded its growth forecast for 2020 to 2 percent. Nigeria's budget is set on crude prices being at least $57 per barrel for it to fund government spending. Finance Minister Zainab Ahmed on Wednesday said the government was "concerned by the current drop in oil price because it's now below our budget". She said officials would conduct "a mid-term review" in the coming months and adjust the budget if revenues continue to suffer. Ministers from the OPEC group of oil-producing countries, including Nigeria, on Thursday recommended a drastic production cut of 1.5 million barrels per day to stabilise oil prices which have dropped to $47 a barrel. str-eak/del/pma
schema:headline	Nigeria senate approves president's $22.7bn loan request
schema:mentions	OPEC Barrel Finance minister All Progressives Congress Recession International Monetary Fund World Bank Nazi Germany Muhammadu Buhari United States dollar Africa United States Senate Nigeria China Severe acute respiratory syndrome coronavirus 2 President of the United States Islamic Development Bank Zainab Ahmed African Development Bank ReVamp Economy of Japan The Move
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-03-05 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	neutral sentiment
http://data.cimple...readability_score	77 (xsd:integer)

Faceted Search & Find service v1.16.115 as of Oct 09 2023

Alternative Linked Data Documents: ODE Content Formats:

RDF

ODATA

Microdata

About

OpenLink Virtuoso version 07.20.3238 as of Jul 16 2024, on Linux (x86_64-pc-linux-musl), Single-Server Edition (126 GB total memory, 3 GB memory in use)
Data on this page belongs to its respective rights holders.
Virtuoso Faceted Browser Copyright © 2009-2025 OpenLink Software