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
cwadmin8 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…
c
Published by
cwadmin
Trained and practicing journalist passionate about telecommunications, fintech, cybersecurity, and digital economy reporting.
You May Like
Moniepoint Says Unexpected Expenses Disrupt 73% of Nigerians’ Savings Plans
NAICOM Revokes Universal Insurance Licence, Appoints Receiver
EFCC Arraigns FCMB Staff, Accomplice over Alleged $25,000 Access Credential Deal
Agusto & Co Withdraws A-credit Rating on Geregu Power Over Bond Default
Banks, Others Report 42,082 Transactions to NFIU
