The Minister of Foreign Affairs, Geoffrey Onyeama, has revealed the readiness of China to loan Nigeria up to $6 billion for infrastructural projects.
The Minister disclosed this to reporters who were on the President Muhammadu Buhari’s entourage to China.
He said: “It is a credit that is on the table as soon as we identify the projects, we access the facility,”
“It won’t need an agreement to be signed; it is just to identify the projects and we will access it.”
In the same vein, the Senior Special Assistant to the President on Media and Publicity, Garba Shehu, revealed in a statement that the President of China, Xi Jinping has offered the sum of $15 million for agricultural development in the country.
The Presidential spokesman continues that the Chinese president made the offer during talks between the high ranking officials of the Chinese government and President Buhari’s delegation.
Added to that, the Chinese government has promised to raise its scholarship awards to Nigerian students from about 100 to 700 annually adding that about 1,000 Nigerians would be given vocational and technical training annually.
Garba added in the statement that: “China also expressed an interest in setting up major projects in Nigeria such as refineries, power plants, mining companies, and textile manufacturing and food processing industries as soon as the enabling environment is provided by the Federal Government,”