Bill Gates To Pay Nigeria’s $76m Debt | The Precision

Nigeria has authorised Bill and Melinda Gates Foundation to start the repayment of $76 million polio eradication loan to Japan.

 

The Minister of Finance, Mrs Kemi Adeosun, made this known in Abuja
on Tuesday when she received a delegation of Japanese House of
Councillors Parliamentarians.

She said that the delegates were in Nigeria to assess the level of
usage of Overseas Development Assistance (ODAs) extended to Nigeria
since 2014.

She added that the authority to trigger repayment was given to Bill
and Melinda Gates Foundation following the eradication of polio in the
country.

She noted that the eradication of polio was made possible as a result
of the ODA facility provided by the Japanese Government valued at $76
million in 2014.

She recalled that the ODA was structured for repayment after four
years and that by this development, Bill and Mellinda Gates Foundation
would start repaying the facility to Japan this year.

Adeosun while marketing Nigeria to the Japanese delegation noted that
Nigeria was fast growing and evolving from negative areas to positive
areas through its determined fight against corruption.

She added that “because Nigeria is a middle income country, we will
require the expertise of Japanese companies for infrastructure
development.

“Nigeria is a good place to invest because it is a rising investment destination.

“I promise that the government will make life easy for Japanese investors wishing to do business in Nigeria.”

In his address, the leader of the delegation, Mr Kiyoshi Ejima,
described Nigeria as a power house with rich natural resources with
which Japan tried to strengthen relationship with.

Nigeria, he said, had set the target of becoming one of the top 20
economies by the year 2020 and he assured that “Japan will support
Nigeria toward realising its 2020 target.” (NAN)