Nigeria has approved a three-year plan to to borrow more from abroad. This was revealed by Finance Minister Kemi Adeosun on Wednesday after the economy slipped into recession for the first time in more than 20 years.

The West African nation plans to borrow as much as $10 billion from debt markets, with about half of that coming from foreign sources. It is also seeking advisers to manage a $1 billion Eurobond it intends to offer this year.

This also includes looking for soft loans in addition t…
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