CHINA LOANS NIGERIA $328 MILLION TO BOOST TELECOMS: NIGERIA PRESIDENCY

CHINA LOANS NIGERIA $328 MILLION TO BOOST TELECOMS: NIGERIA PRESIDENCY

ABUJA (Reuters) – China’s Exim bank will lend Nigeria $328 million toward improving the west African country’s telecoms infrastructure, Nigeria’s presidency said on Saturday, at the start of a six-day visit by President Muhammadu Buhari to the country.

Poor telecoms are a major challenge for businesses operating in Nigeria, which is Africa’s largest oil producer, most populous country and has one of the continent’s largest economies.

The agreement, the latest in a number of Chinese loan facilities to Nigeria since Buhari took office in 2015, comes as Beijing seeks to deepen its ties in Africa.

Nigeria’s presidency, in an emailed statement, described the loan as between Nigeria’s Galaxy Backbone and China’s Huawei Technologies .

It said the agreement was part of “the current administration’s commitment to incorporating the development of information and communications technology into national strategic planning”.

Buhari’s administration has said it wants to improve the country’s technology infrastructure to boost growth and create jobs as it seeks to reduce reliance on oil sales, which make up around two thirds of government revenues.

Reporting by Felix Onuah; Writing by Alexis Akwagyiram; Editing by Andrew Roche and Alexandra Hudson

Facebook Comments

About author

Nigerians in South Africa
Nigerians in South Africa 1742 posts

We are about democracy, human rights, public opinion, political behavior, civil rights and policy aimed at improving the human condition, with a focus on African countries.

You might also like

Entertainment 0 Comments

LIONHEART: GENEVIVE NNAJI DON DEY COLLECT ACCOLADES

Lionheart wey be Africa first original feem wey Netflix produce don land. Di feem wey be di first movie Nigeria actress Genevieve Nnaji dey direct, and act, don already dey

Life & Style 0 Comments

HENRY OBENG FROM GHANA BAGS THE ABSA L’ATELIER SECOND MERIT AWARD

Henry Obeng will receive a two-month residency at the Kunst: Raum Foundation, Sylt Quelle, Germany; includes return airfare and a monthly stipend. L’Atelier is one of Africa’s most prestigious art

AFRICAN CINEMA: WHICH WAY TO GO?

I spent some time in South Africa, first as an invited guest lecturer at the University of Limpopo, Teaching Directing and Filmmaking to 3rd and 4th years as well as

0 Comments

No Comments Yet!

You can be first to comment this post!

Leave a Reply