The Federal Executive Council (FEC) on Wednesday approved a three-year external borrowing plan.
Finance Minister Kemi Adeosun told State House reporters after the FEC meeting chaired by President Muhammadu Buhari that the borrowing plan would run from 2016 to 2019.
The minister said the plan would be transmitted to the National Assembly for approval.
She listed the benefiting sectors as power, solid minerals and agriculture.
She said $150 million would go into power sector alone, adding that agriculture would be the greatest beneficiary.