Following
the $3 billion loan recently granted the Federal Government by China, during
the visit of President Goodluck Jonathan for infrastructure development, the
nation’s current debt to the Asian giant currently stands at N592.8 billion.
Before
then, China had granted Nigeria a total of $800 million or N124.8 billion,
according to the Coordinator and Chief Executive of the Nigeria-China Business
Council NCBC, Matthew Uwaekwe.
Addressing
journalists at an interactive session organised by Council in Lagos, Uwaekwe
said the parley is a demonstration of the cordial business relationship between
the two countries, targeted at creating the enabling environment for the people
and government of Nigeria to repay the facilities.
Giving a
breakdown of the loans, he said $200 million was for the Yankari Independent
Power Project; $500 million for improvement in the aviation industry; while the
remaining $100 million was for the Lagos State Government.
Aside the
direct loans, Uwaekwe said a number of Memorandums of Understanding (MoUs) have
been signed between the council and its Chinese counterparts, adding that the
Chinese government also donated a hospital in Abuja.
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