Dr. Ngozi Okonjo-Iweala, Coordinating minister for the Economy and minister of Finance has said that President Goodluck Jonathan’s visit to China will finalize $1.1 billion in low-interest loans for much-needed infrastructure in Africa’s giant, from airports and roads to a hydropower plant.
Okonjo-Iweala who left for China with Jonathan last night (Monday) for a four-day visit told The Associated Press she is also looking for Chinese investment and increased trade with Nigeria.
She also said “China is desirous of increasing its lifting of Nigerian oil.” The petroleum minister is among senior Cabinet members on the trip along with several state governors.
She said as U.S. demand for Nigerian oil has fallen, India and China have taken up the slack.
Okonjo-Iweala said the loans are part of $3 billion approved by China at interest rates less than 3 percent.
Nigeria Eyes Chinese $1.1Bn Loans to Rebuild Battered Infrastructure
cwadmin9 Jul 20130 Comments
Dr. Ngozi Okonjo-Iweala, Coordinating minister for the Economy and minister of Finance has said that President Goodluck Jonathan’s visit to China will finalize $1.1 billion in low-interest loans for…
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