Sunday, September 02, 2018

China Loans Nigeria $328 Million To Boost Telecoms


According to report, China’s Exim bank will be lending Nigeria $328 million towards improving the west African country’s telecoms infrastructure.

Nigeria’s presidency reportedly said on Saturday, at the start of a six-day visit by President Muhammadu Buhari arrived in Beijing on Saturday, China for the 7th Summit of the Forum on China Africa Cooperation. After it was noted that poor telecoms are a major challenge for businesses operating in Nigeria, Africa's largest oil producer and most populous country that's 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.

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