Nigeria is negotiating with the World Bank for a new tranche of concessional loans for an amount of 2.5 billion dollars, according to the information site Bloomberg.

"We are talking about a new set of programs of about the same amount, which should be about $2.5 billion," said Vice President for Africa Hafez Ghanem.

Nigeria in 2018 received $2.4 billion from the international financial institution. The country has multiplied its borrowings, due to the vagaries of oil prices, to finance state expenditure, with a domestic debt of 55.6 billion dollars and external borrowings of 25.6 billion dollars. Faced with this high level of indebtedness, Nigeria has asked for more credit at low interest rates and long repayment periods from institutions.

In April, the World Bank lowered its growth forecast for Nigeria for 2019 from 2.2% to 2.1%, down from 3% initially.