Sunday, September 2, 2018

CHINA LOANS NIGERIA $328 MILLION TO BOOST TELECOM

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President Muhammadu Buhari on Saturday arrived in Beijing, China for the 7th Summit of the Forum on China —Africa Cooperation.
China’s Exim bank will lend Nigeria $328 million towards improving the west African country’s telecoms infrastructure, Nigeria’s presidency said on Saturday, at the start of a six-day visit by President Muhammadu Buhari to the country.
Poor telecoms are a major challenge for businesses operating in Nigeria, which is Africa’s largest oil producer, most populous country and has one of the continent’s largest economies.
The agreement, the latest in a number of Chinese loan facilities to Nigeria since Buhari took office in 2015, comes as Beijing seeks to deepen its ties in Africa.
FILE PHOTO: President of the Federal


FILE PHOTO: President of the Federal Republic of Nigeria, Muhammadu Buhari (L) and Chinese President, Xi Jinping shake hands during a signing ceremony at the Great Hall of the People in Beijing, April 12, 2016. REUTERS/Kenzaburo Fukuhara/Pool/File Photo

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