The party said the money would be used to stimulate the economy and create jobs. It described the borrowing as a departure from the looting days of the Peoples Democratic Party (PDP).
The governing party urged Nigerians to recall that the PDP had, in its 16 years of misrule, pushed the country into a dark ditch of insolvency.
Nigeria is still servicing a $460m loan taken from China to fund a phoney Abuja Closed-Circuit Television contract.
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