Evry tn in naija don turn 2 china. Our phones, china. Motor, china. Bicycle, china. Presidnt, china. Network preovision, china. Education, china. Now na d same china we dy run go 4 help. Its better we chng our names 2 chinese.
Awuchi chinaza= A wu chanyi

i cant just understand dis ppl......We better start getting a chinese name now.....

Most people dont even understand the loan it is not in physical cash but putting up infrastructure that is worth that amount they want chinese government to put in place for Nigerian govt.

abujalapdog: Most people dont even understand the loan it is not in physical cash but putting up infrastructure that is worth that amount they want chinese government to put in place for Nigerian govt.

Same noni...abi na free dem go do the infrastructure for us ni

another opportunity for china to enslave Nigeria

Hmmm. . . Its not the 1st time Nigeria is signing such deals with other countries, but what do we have to show for it. . .
Any Country that mean well for Nigeria should help in building a gud refinery.

Its a loan, hence the confirmation that its low interest. The Chinese Govt knowing how corrupt the Nigerian government is have mandated that they be awarded the projects and its oversight. The Chinese government is not doing it for free. They have have bartered cheap oil vs low interest loan. Call it what you like, at the end of the day it needs to be paid back. You can say my position puts me in the know.

abujalapdog: Most people dont even understand the loan it is not in physical cash but putting up infrastructure that is worth that amount they want chinese government to put in place for Nigerian govt.

Ok, my new name is Chang Wu Cheng

For some reason i have a bad feeling about this

I ask myself why China? Those guys are crafty they have their hand in every major economy and they are the puppeteers pulling the string of the world economy. they rewrote the manual on now to act behind the scene!

bellong: With the borrowed money for building infrastructures, Chinese companies will still be the same people that will be awarded the contract...

One step forward, giant steps backward..

bellong: With the borrowed money for building infrastructures, Chinese companies will still be the same people that will be awarded the contract...

One step forward, giant steps backward..

I totally agree with you, they will "burrow" you money but they will also dictate how, where and when the "burrowed" money will be used!!! Well i don't blame them cos if i were the one i would do the same, i "burrow" you money for business, say to buy buses for transport(and you must buy the buses from me), and take a percentage of profit and if the bus is lost you bear all the loss cos you still "owe" me + interest.
I can't believe am saying this but Gaddaffi and his call for Africa Union to close rank to assist themselves against out side interference ,that part of his ideas i fully agree with.

We really need a smart and diplomatic attitude in how we implement our foreign polices, with this bold and open move america may further be wary and distance Nigeria, in as much as we are an independent sovereign nation, we need to play the world politic well and be seen to be neutral and friendly to all the super powers. and not be fully seen preferring one over the other.

US and China are "friendly" yet during the peak of the north Korea saga, you could feel the backing the North had with China. America was not pleased with that but as china is a super power as well they can't do jack about it. so back to Nigeria and getting a "Loan" from china, Obama just visited Africa and Nigeria was exempted, now we are romancing with China.This is surely waving a red flag at America, we could have done this deal with a low profile and still be offering an olive branch to the US to keep things smooth on that level.

Before China became a super power, there were general disdain and scorn for them, but they played the "fool" and learned all they could from anywhere they can, now they are "king of the hill" we need to learn from them be friendly with all and learn. never make an open preference for on nation over the other even subtly or indirectly. Nations bear grudges don't forget.

What may I ask do we do with our foreign reserve which is about $49 billion dollars? Why not tap into that and withdraw $1.1 billion dollars to build our much needed infrastructure?

Watermelon: Ok, my new name is Chang Wu Cheng

WHY PLEASED TO MEET U CHANG WU CHENG
CAN I CALL U MR. CHENG OR JUST WU

WHICH DIRTY FRESH AIR...HOW CAN NIGERIA GO TO BORROW MONEY FROM CHINA? MONEY THAT SOME NIGERIANS COULD EASILY LOAN TO NIGERIAN LOOTED FROM NIGERIA....NIGERIA IS IN A HOPELESS STATE. PERIOD....

oxford: the new dawn of fresh air.

FOOL....INCASE U HAVENT REALISED. THE AVERAGE NIGERIAN IS BUSY LOOKING FOR FOOD TO EAT. OLODO

Truckpusher: Most Nigerian youths don't even watch the news and follow-up events to understand agreements being entered by their govt and other govts and ask questions if they don't understand ,but would quickly comment showing their naivety with their unintelligent posts which makes me wonder why wouldn't the criminal elements in the govt continue to steal with impunity fully aware that an average Nigerian do not pay attention to details......smh

Truckpusher: Most Nigerian youths don't even watch the news and follow-up events to understand agreements being entered by their govt and other govts and ask questions if they don't understand ,but would quickly comment showing their naivety with their unintelligent posts which makes me wonder why wouldn't the criminal elements in the govt continue to steal with impunity fully aware that an average Nigerian do not pay attention to details......smh

I was begining to think all nairalanders are just ignorant cows

I just laugh at this ASUU guys, money wey man go hustle from China for hin 2015 election "sorting", him go con pack con give una? I pray! LOL!

The President who wears Corleone's hat, effect of colonialism(is that their culture?, that ish aint African, it's either they had one or never had one)

yuzedo: And Nigeria is giving China what exactly in return?! I am not talking about the terms on paper. Money Cost. Opportunity Cost. Bla bla bla. What price is Nigeria REALLY paying for this?

Probably $10 billion. The article states that Chinese companies already have contracts worth $1.7 billion.
Looking at it in a simplistic way,
1)China gives us $1.1 billion
2)We give Chinese companies contract with the money.
3)We pay back China $1.1 + interest.

Those Chinese guys are smart.

vincenticheke: What may I ask do we do with our foreign reserve which is about $49 billion dollars? Why not tap into that and withdraw $1.1 billion dollars to build our much needed infrastructure?

what makes every jobless citizen feels he or she knws more than their president? The main fact u have internet doesn't make u a wise guy. Smh quality educationis scarce

And does this call for celebration

I laugh at you all. The money that have already been shared before been utilised. Tell me how can 190 billion naira solve all these problems, only shallow thinkers like their presidential will fall for his tricks.

GEJ and his cohorts, una well done oh

200,000bpd for a deal.GEJ do you realy need to plunge Nigeria into hig level debt?

Truly , majority of you are illogical . As far as am concerned , this deal is true example of trade by barter , and it's the best strategy any sensible executive leader , who has genuine interest to develop/update infrastructure in a country where corruption is high like ours ,can adopt . For One , the Chinese government will not be giving our government physical cash , rather they are coming to build the aforementioned infrastructures in exchange of getting crude oil in same value , so there won't be any means the looters in the corridor of power will embezzle it . All the government through it's designated ministry for the concerned projects will do is oversight function , ensuring that the Chinese government/its contractors do quality job . The issue of interest would also be paid in kind , that is through crude oil , so I don't see any wrong in that , capitalism is the best form of economic system .

Let someone counter me , would it not have been beneficial to us today , had it been OBJ, during his tenure entered into this kind of agreement with any country that had the might to provide us with 24 hours electricity , while we in turn give them crude oil in same value with minimal interest rate payable with crude oil too . If that was to be the case, am sure by now our beloved country should be enjoying constant electricity , thus us having value for the assumed USD16 billion that was wasted on the same project without nothing to show for it till date .

Make dem dey borrow without sense ooooo! ..# cuz I'm sure it lead to a debt overhang.

WackyJ1: Why didn't Jona just go to Dangote?

abi o! But may b in order to prevent monopoly sha cos dangote wants 2 invest in d oil sector.

Appliedmaths.:
Make dem dey borrow without sense ooooo! ..# cuz I'm sure it lead to a debt overhang.

abi o! May GOD just provide 4 nigeria to pay back(hmmm! This our corupt oficials, wil they allow d money to even land 4 infrastructure?)

Nigeria's problem was not the lack of money in the first place. Nigeria has absolutely no business getting loans from other countries.

Getting in bed with the Chinese is an absolutely terrible idea!

I weep for my nation, obviously this loan is conditional as the chineese would collect back 80 percent of this money via contracts leaving us with infrastructure that wouldn't affect d life of d commom man. It must lead to a debt overhang that would condition us to use our resources(oil) to bail our selves out at dictated prices by the chineese. I need a a private jet, seriously I need to port out of 9ja b4 it gets too messy.

Babzilla: 我現在是一個中國人。我的國家已經把我賣給中國的黃金和白銀 我現在是一個中國人國的黃金和白。我的國家已經把我賣給 經把我賣給中國的。我的國家已經把我賣給中

I am now a Chinese person. My country has sold me to the Chinese Gold and Silver I am now a Chinese national gold and white. My country has sold me. The sold me to China. My country has sold me in. (Courtesy: google translate).

Truckpusher: Most Nigerian youths don't even watch the news and follow-up events to understand agreements being entered by their govt and other govts and ask questions average Nigerian do not pay attention to detail

Even if we know what can we do... I don lose faith in this system.

Funny!

cecegorz: I hope GEJ knows that a borrower is a slave to the lender.
We just keep mortgaging our future to all these countries.
What is $1b that we should be going cap in hands to borrow, with all the strings attached?
Just gather ten people out of all the officials that has been freely looting our money and put them under serious pressure, they will cough out more than that.

BANKRUPTCY ABI ?Is a shame that Nigerian office holders and politicians earn the highest amount of money in the whole world and at the same time borrowing from countries that know how to manage their resources.

No matter hw attractive the deal b/w the both countries may seem, we shud not 4get that any rlationship b/w a power nation n a poor nation is usually xploitativ as such China z pursuing an interest dat z nt overtly knwn 2 us.No matter hw attractive the deal b/w the both countries may seem, we shud not 4get that any rlationship b/w a power nation n a poor nation is usually xploitativ as such China z pursuing an interest dat z nt overtly knwn 2 us.No matter hw attractive the deal b/w the both countries may seem, we shud not 4get that any rlationship b/w a power nation n a poor nation is usually xploitativ as such China z pursuing an interest dat z nt overtly knwn 2 us.