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  • CHINA LOANS NIGERIA $328 MILLION TO BOOST TELECOM
  • 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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