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FEC approves $1bn Chinese loan for Hydropower project

Godsgift Onyedinefu   The Federal Executive Council (FEC) has approved another $1 billion Chinese loan for for the Gurara II Hydropower project. The approval was given at a meeting presided over by President Muhammadu Buhari at the presidential villa, Abuja, on Wednesday. Confirming the loan approval, Suleiman Adamu, minister of water resources, said the

AEMA: China-Africa economic relations, more of resources than development – AFDB

•Injects $160bn loan, aid to Africa in 3 years •As Elumelu, Dangote, Dora Akunyili, others nominated for Africa Economic Awards Godsgift Onyedinefu The African Development Bank (AfDB) has expressed worry that China's economic relationship with Africa suggests that it mainly targets her natural resources rather than investment and transformation in African countries. This was

$500m Chinese loan: Nigerians have no reason to panic – DMO

The Debt Management Office, DMO, has reassured the Nigerians that there is no risk of default on the 500 million US dollars loan expected from China. The department gave the reassurance in a statement on Tuesday in Abuja. DMO’s statement is in reaction to public concern following the announcement at the Forum on