Nigeria’s government is in talks for concessionary loans worth $3.5 billion from the World Bank and African Development Bank to help finance a planned record budget this year, Finance Minister Kemi Adeosun said. While discussions are going on, a formal request hasn’t yet been made to the World Bank for $2.5 billion and the AFDB for $1 billion, Adeosun said by telephone on Sunday. The government plans to tie them to specific capital projects, she said. A request hasn’t been made for assistance from the International Monetary Fund. Lawmakers in Nigeria’s parliament will begin deliberations this week on the record 6.1 trillion naira ($30.7 billion) 2016 spending plan, she said. Nigeria depends on oil for almost all exports and two-thirds of government revenue, and public finances are being squeezed amid a 7 percent drop in crude prices this year. Africa’s top oil producer wants to spend its way out […]