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Bill Gates to pay Nigeria’s $76m debt

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
“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)

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