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Nigerian lawmakers to probe national grid firm over $2 bln of foreign loans
LAGOS (Capital Markets in Africa) – Nigeria’s lower house of parliament will investigate $2 billion of foreign loans which the state-owned national electricity grid operator may have raised without official approval, lawmakers said on Wednesday. The investigation could be a blow to efforts to improve Nigeria’s creaking power infrastructure, which is often blamed for hobbling growth in Africa’s largest economy. Nigeria privatized most of its power sector in 2013 but retained control of the dilapidated…
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