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China Lends Dangote $2bn: Is Yuan The New "Dollar" for Nigeria? - Business (3) - Nairaland

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Re: China Lends Dangote $2bn: Is Yuan The New "Dollar" for Nigeria? by LordVoldemort(m): 8:24pm On Apr 12, 2016
Firefire:
Wonderful!

"Nigeria has already converted up to a tenth of its reserves into yuan five years ago.
Songtian said a framework on currency swaps has been agreed with Nigeria making it easier to settle trade deals in yuan".


God bless our hero's past.

God bless the past administration, God bless Goodluck Jonathan for setting the foundation for this achievement.

Where are the APC terrorist children of hate and anger...? Your usual hate comments and useless rant against the best president in the history of United Nigeria welcome. cheesy

Yeah GEJ administration set the foundation for the achievement buh kudos to the PMB administration that follow through with a good policy. This shows he has the best interest of Nigerians at heart and he Is not playing politics. Most govt would have abandon it and look elsewhere for new project.

Some of the good project under GEJ were carried for forward by PMB buh the only diff being they renegotiate the contract to favour Nigerians.

Glad to have a president that cares about is people

1 Like

Re: China Lends Dangote $2bn: Is Yuan The New "Dollar" for Nigeria? by Nobody: 8:30pm On Apr 12, 2016
China getting more closer to being world power.
Dangote is government kid.
Re: China Lends Dangote $2bn: Is Yuan The New "Dollar" for Nigeria? by KahlDrogo(m): 8:31pm On Apr 12, 2016
KissCODE:
I like this move biko. It is time Nigeria gives dollar a back bench position.

This will help my Igbo brothers in their business transaction with China.

[s]Modified:
I give kudos to PMB for this move. I so much love cos most of our imports are from China.

But for a governement that has blamed the past administration for every of its woes, it wuld be an honorable thing if it also appluad GEJ for making this move possibly fast.

Every good moveever made by this government is offshoot of GEJ‘s policy.

Thank u GEJ.[/s]
Very very very stuupid statement dear ipob yoot.
Re: China Lends Dangote $2bn: Is Yuan The New "Dollar" for Nigeria? by KahlDrogo(m): 8:35pm On Apr 12, 2016
Firefire:
[s]Wonderful!

[color=#0099] "Nigeria has already converted up to a tenth of its reserves into yuan five years ago.[/color]
Songtian said a framework on currency swaps has been agreed with Nigeria making it easier to settle trade deals in yuan".


God bless our hero's past.

God bless the past administration, God bless Goodluck Jonathan for setting the foundation for this achievement.

Where are the APC terrorist children of hate and anger...? Your usual hate comments and useless rant against the best president in the history of United Nigeria welcome. [/color][/s]cheesy
Tirade from a Useless unemployed street urchin. Jonadaaft is a clueless camel.
Re: China Lends Dangote $2bn: Is Yuan The New "Dollar" for Nigeria? by Nobody: 8:38pm On Apr 12, 2016
maryjan8:
This is a good one.
A man like Dangote knows what to do with such an amount of money.
to import cement sugar flour rice etc...and crumble local industries and use govt to chase his competitors like he did with Niger cement and ibeto cement abi...

1 Like

Re: China Lends Dangote $2bn: Is Yuan The New "Dollar" for Nigeria? by Nobody: 8:40pm On Apr 12, 2016
The $2b buhari is borrowing from china, hope its not the same $2b they are giving to Dangote. .na wa
Re: China Lends Dangote $2bn: Is Yuan The New "Dollar" for Nigeria? by Nbote(m): 8:41pm On Apr 12, 2016
Some of una funny sha and gullible join.. So because China gave dangote loan it now means our new fx bill is now d yuan abi?? How dumb can some ppl b sef.. Every thing on the import export market deals with the US dollars.. Gold, crude oil, cocoa U name it. Even Chinese trade is done in the US dollars so I wonder how and why some of U came up with wateva insinuations u did. D Chinese are in a superpower tussle with the US in particular and are offering beta deals to what the US and it's allies would offer... Anyway how many ppl go borrow from China sef?? Abi Dangote went on a collabo mission with the presidency or the presidency help am collect loan... And again I remember clearly the federal govt offering Dangote fx for his cement factories and refineries so I'm really confused...
Re: China Lends Dangote $2bn: Is Yuan The New "Dollar" for Nigeria? by onatisi(m): 9:03pm On Apr 12, 2016
No wonder he was praising buhari earlier in the day saying that buhari is trying. Na 2billion dollars loan dey push am grin

Nigerian masses always been fooled by their leaders

1 Like

Re: China Lends Dangote $2bn: Is Yuan The New "Dollar" for Nigeria? by macaranta(m): 9:28pm On Apr 12, 2016
Nice one
Re: China Lends Dangote $2bn: Is Yuan The New "Dollar" for Nigeria? by Mitchellucky: 10:06pm On Apr 12, 2016
Mr President please tell Chinese government to start extending our Visa when we visit them .because the frustration is 2 much from them.i can't see the reason why Nigeria and Chinese government we be Sig many big deal with huge amounts of money like this,still yet they can't extend our visa when we visit the but there own citizens are being extend there own visa when ever they visit Nigerian.please Mr President talk to them about this issued it's very very important to every Nigerian person who visit Chinese countries thanks God bless Nigerian.
Re: China Lends Dangote $2bn: Is Yuan The New "Dollar" for Nigeria? by Mitchellucky: 10:10pm On Apr 12, 2016
davide470:


Source: http://nairametrics.com/china-lends-dangote-2bn-reach-agreement-with-nigeria-on-yuan/
Re: China Lends Dangote $2bn: Is Yuan The New "Dollar" for Nigeria? by gwales: 10:20pm On Apr 12, 2016
[s]
daylife7:

to import cement sugar flour rice etc...and crumble local industries and use govt to chase his competitors like he did with Niger cement and ibeto cement abi...
[/s] Rubbish, dangote doesn't import cement and also have sugar refinery in adamawa which even the government commended due to his policies for reducing importation. He also have flour industry in kano, and by late this year his rice factory would come on stream. So, better stop hating ipad yoot and tell your brothers to start producing at home or u can continue to wail on how dangote is busy monopolizing nigeria
Re: China Lends Dangote $2bn: Is Yuan The New "Dollar" for Nigeria? by Roadmike(m): 10:25pm On Apr 12, 2016
drake49:
Relax and read


Believe all from this Administration, and you'ii believe all- Possible mud have forgotten -ONE CHANCE GOVERNMENT

1 Like

Re: China Lends Dangote $2bn: Is Yuan The New "Dollar" for Nigeria? by myhotbrain: 10:29pm On Apr 12, 2016
The $2B Chinese loan to Dangote is, specifically, for the construction of the 2 new cement factories in Itori and Okpella, Ogun and Edo States respectively.

FYI: CHINESE COMPANIES ARE THE MAJOR BUILDERS OF THESE FACTORIES AND THE CHINESE BANK IS MAINLY HELPING TO FINANCE PART OF THE CONSTRUCTION COST, SO THAT THEIR OWN COMPANIES WILL CONTINUE TO MAKE PROGRESS IN NIGERIA. IN ADDITION, THE COST OF FUNDS, THAT IS, THE INTEREST RATE IS LOWER THAN WHAT DANGOTE WOULD PROBABLY GET FROM OTHER SOURCES. THEREFORE, THIS $2B LOAN IS WIN-WIN SITUATION FOR BOTH THE CHINESE CONTRACTORS/BUILDERS AND DANGOTE CEMENT.
Re: China Lends Dangote $2bn: Is Yuan The New "Dollar" for Nigeria? by stevecantrell: 10:37pm On Apr 12, 2016
Kollyman:
This is wonderful.
It's about time we give dollar a very big break!
America will not like this and will surely strike back
Re: China Lends Dangote $2bn: Is Yuan The New "Dollar" for Nigeria? by Pidggin(f): 10:47pm On Apr 12, 2016
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Re: China Lends Dangote $2bn: Is Yuan The New "Dollar" for Nigeria? by Pidggin(f): 10:49pm On Apr 12, 2016
If Dangote is still borrowing to fund his businesses then actually he is not as rich as we think.

We go soon become partly communist country as na China don become our creditors. Na Chinko level we dey now, wen our mates dey exchange dollars our level na Yuan Chai SMH
Re: China Lends Dangote $2bn: Is Yuan The New "Dollar" for Nigeria? by cardoctor(m): 2:02am On Apr 13, 2016
Africa s richest man borrowing $2bn dollars?
Re: China Lends Dangote $2bn: Is Yuan The New "Dollar" for Nigeria? by Maski87: 2:55am On Apr 13, 2016
The yuan is a currency deliberately devalued by china to make their products cheap meanwhile the loan given to dangote,is being guaranteed by nigeria of he defaults we pay
Re: China Lends Dangote $2bn: Is Yuan The New "Dollar" for Nigeria? by mickey45: 5:22am On Apr 13, 2016
Ymodulus:
Typing...


And why am I not surprised you'd be here?
Been a while....
Howdy?
Re: China Lends Dangote $2bn: Is Yuan The New "Dollar" for Nigeria? by egoldman(m): 6:01am On Apr 13, 2016
davide470:


Nigeria has already converted up to a tenth of its reserves into yuan five years ago.

Who was in power then , was it the one they said was clueless ?? i laugh in swahili .
Re: China Lends Dangote $2bn: Is Yuan The New "Dollar" for Nigeria? by Reference(m): 6:05am On Apr 13, 2016
ajalawole:
wait ooo. Sha na everyody wen go get money from china ni

Is that not where all our money goes, right down to toothpicks. It must surely find its way back. No matter how big the barn of a yam farmer. He has to empty it to move forward. China no go chop money.

What I have been saying is if this government had gotten its fiscal and economic policy right instead of intrest bearing loans we will be getting interest free investment. In the world of finance money chases after the place of largest economic potential. Create a green pasture and get free money.

And I think Nigerians should stop the habit of 'reckless complaining' about the economy. It repels external help. I spoke with someone who had been struggling in business and needed my help to refloat. What worried me was the incessant lamentation and after reviewing practices, a terminal statement came out, 'and what do you want me to do'. It sounded defeatist so I left the case pending for a few days to give me time to weigh the risks. If we become hopeless as a nation, no one will be willing to take risks on us.

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