Nigeria to up 2012-2014 external debt by $1.3 bln: finmin

Tue Nov 6, 2012 1:22pm GMT

ABUJA (Reuters) - Nigeria's finance minister has asked lawmakers to expand its 2012-2014 external borrowing plan by $1.3 billion to take the total debt over the period to $9.2 billion.

The additional debt would be used to launch a $1 billion eurobond next year, a $100 million diaspora bond and for $200 million water projects in oil-producing Rivers state, the finance ministry said on Tuesday.

Ngozi Okonjo-Iweala put the proposal to the national assembly on Monday.

Nigeria's Finance Minister Ngozi Okonjo-Iweala speaks during an interview with Reuters in her office in the capital Abuja August 24, 2012. REUTERS/Afolabi Sotunde
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