nigeriapenbase:
President Muhammadu Buhari on Saturday arrived in Beijing, China for the 7th Summit of the Forum on China —Africa Cooperation.

China’s Exim bank will lend Nigeria $328 million towards 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.



News Source: https://www.nigeriapen.com.ng/china-loans-nigeria-328-boost-telecoms-148562/

money for rigging election don complete

GMB is bent on killing dis country wit loans. worst of all is dat these loans aint targeted at our comparative advantage

kehinde1588:
Why telecommunication?
Its better the loan is used for electricity. One of factors causing set back in this country is the erratic power supply. If F.g can increase the supply of electricity, this will have a long effect on the cost of production which in turn will reduce prices of goods and services. Also, it will encourage locally made goods.

HOW WILL U EXPECT OUR ELECTRICITY TO BE GOOD. WHWN MOST OF OUR SO CALLED LEADER WERE D ONE IMPORTING GENERATOR TO THE COUNTRY. AND LOOTING THE BUDGET SET ASIDE FOR ELECTRICITY

I weep for Nigeria. When will we stop borrowing money to waste or loot? Ivory Coast never borrowed such amount to boost their telecom sector, but I know that ORANGE is doing a good job in that country when it comes to communication.

majekdom2:
Just wondering who loaned China money to before it became the present day China

This one na project topic o.
"How did China become an economic superpower".

They had pragmatic leadership, production efficiency and made the best use of their large population. They became the go to place for cheap labour, thus attracting FDIs.

izibili44:
we do not need such money now. Let it be after election.

My Guy don't play with high blood pressure,they never start to dey pepper una yet,Government magic,No vacancy at the Rock.

President Buhari shouldn't come back to Nigeria unless they secure trade deals of over 2 Billion Dollars,this summit could not have come at a better time for Nigeria,the trade war between the United States and China opens new market for commodities, Bonny light crude as substitute of import from the United States, and Liquefied Natural Gas (LNG).

nigeriapenbase:
President Muhammadu Buhari on Saturday arrived in Beijing, China for the 7th Summit of the Forum on China —Africa Cooperation.

China’s Exim bank will lend Nigeria $328 million towards 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.



News Source: https://www.nigeriapen.com.ng/china-loans-nigeria-328-boost-telecoms-148562/

Lifeless supporters and their President. ..... una see una life

Keep fooling yourself.

Ask the guys in ASPAMDA who have benefited.

Racoon:
What is China lending Nigeria money for after the useless currency swap deal she had with us that was so overhyped by this rudderless government then?

Of this loan is not interest free.What becomes of all the retrieved looted & relooted funds APC is simply mortgaging this country.

tolexy007:
Trust me, China will soon buy Nigeria. Nigeria is a funny country we are taken loan of $328million while we are sharing $500 million recover from abacha loot, is this gov serious at all?

It's pitiful how we celebrate slavery. Loan is slavery but wait until Liar Mohammed counts it as Buhari's achievement.

Asiri1991:
I weep for Nigeria. When will we stop borrowing money to waste or loot? Ivory Coast never borrowed such amount to boost their telecom sector, but I know that ORANGE is doing a good job in that country when it comes to communication.

Ignorant Guinea Pig stop peddling lies:

Côte d'Ivoire secures US$130 million loan to complete fibre optic network ...
www​.itwebafrica.com/m/.../ ...
5 Jul 2018 ... The National Agency for Côte d'Ivoire's Universal Telecommunications and ICT (ANSUT) has secured a loan of 

http://www.itwebafrica.com/m/news/GvRQrpEJD7Ap

Buhari and debt sha. When e nor be curse. Wetin we dey boost for telecoms? Few years now na to dey service the debt, dey pay interest.

Na Buhari dey rush China now

Naija preparing for MTN exit...

deomelo:




What is wrong with telecoms? Telecoms is the backbone and foundation of tech and economic advancement, without you are going nowhere.


Looks like these old politicians are smarter and more sensible than the so called Nigerian youths.

I would advise you to not accept any news on the Media on its surface value. You accuse IMF of enslaving developing countries. The Chinese government is doing the same to Nigeria. Foreign AIDS is not a gift, it always has an element of "theft slavery" in it.

Please read this article below and dig further.

NEW MALAYSIAN PRIME MINISTER AVOIDS THE CHINESE SRILANKA TEA

The Sri lanka Hambantota port was not designed to be owned or managed by the Chinese. But the Chinese-financed & built port has become immersed in huge debt which cannot be repaid. Since Sri Lanka could not repay the Chinese, a new deal offered China 99-year lease to take full control of the port.

Najib Razak the former PM of Malaysia signed up Malaysia for an estimated $34 billion worth of infrastructure projects under the Chinese Belt and Road initiative. This initiative by the chinese is an ambitious programme to invest in ports, rail lines and other projects across Asia, Africa and parts of Europe.

Mahathir Mohamad the new PM(Prime Minister) pulled the plug on $20Bn- 620Km rail line , citing high cost to the Malaysian people. Two other Chinese backed projects have been suspended for proper review.

"Loan terms and conditions need to be renegotiated to avoid the Hambantota port syndrome of over leveraged loans,"- was the reason given by analyst and Malaysian Government sources.

China is funding a lot of mighty Projects in Nigeria including, Rail , Airports,Telecommunications e.tc.

I hope this current Nigerian leadership will avoid the Sri Lanka Hambantota port syndrome.

Otherwise , in 10 years’ time, Nigeria may be fully owned by Chinese leading to recolonization not by Britain this time, but the Asian Tiger.

Nigeria!, Nigeria! , Nigeria! WAKE UP!!!! Shine your eyes, there is no free food in Freetown

Amount equivalent to last Abacha loot

On normal circumstance, Nigeria and China who should lend to each other? It will never be well with the lifeless bedwetting camel toe pedophilic presidiot who have brought unending hardship to this expired contraption popularly called zoo.
I know his likes will quote me, afterall na wetin come concern fowl and toothbrush?

Bad news, telecommunications no be wetin we need now, why can't we inject this money to boast our electricity or in our steel industry.

kehinde1588:
Why telecommunication?
Its better the loan is used for electricity. One of factors causing set back in this country is the erratic power supply. If F.g can increase the supply of electricity, this will have a long effect on the cost of production which in turn will reduce prices of goods and services. Also, it will encourage locally made goods.

You still don't get it do you? It's not that they can't fix the power problem in this country, they can but there are (((people))) who profit too much from erratic power supply.

pocohantas:


LOL! This one a project topic o.
"How did China become an economic superpower".

They had pragmatic leadership, production efficiency and made the best use of their large population. They became to go to place for cheap labour, thus attracting FDIs.

No pain no gain,lazy race of people that do not want to sacrifice,want to eat & shit at the same time,see the glory of China but do not forget,over 30 milion died working the fields under MA Zedong (Chairman Mao)
and the ascension of the Communist Party.

Only 3 years of President Buhari dey are complaining just like the damned children of Israel under Prophet Moses?

vRendoh:
APC na borow borrow party....dem go sink 9ja for debt.

What about PDP?

kehinde1588:
Why telecommunication?
Its better the loan is used for electricity. One of factors causing set back in this country is the erratic power supply. If F.g can increase the supply of electricity, this will have a long effect on the cost of production which in turn will reduce prices of goods and services. Also, it will encourage locally made goods.

Electricity, exactly my thoughts. With that watch business life spring up like the zombies in Michael Jackson's Triller Video

China funding APC re elections.

Keeping loaning without result.

Buhari is God sent

Bede2u:
mumu...the u.s owes itself.

Who do u think the u.s is owing? China?

The debt profile of u.s is money it owes its citizens on welfare...and also its obligations to shithole countries and international organisations...and money u.s govt owes private companies that wrk for them.

U.s dont borrow

FANTASTIC REPLY!

kehinde1588:
Why telecommunication?
Its better the loan is used for electricity. One of factors causing set back in this country is the erratic power supply. If F.g can increase the supply of electricity, this will have a long effect on the cost of production which in turn will reduce prices of goods and services. Also, it will encourage locally made goods.

I don't get it too! I thought the telecom industry is privatized so what the heck is the loan for? To resuscitate Nitel? This is downright misplaced priority. China will never give us the money but only dump technology, equipment and manpower worth on us.

For this one, baba no try.

Addendum:
I pray they don't come back to share the money to existing telecom companies as bailout o! Same thing they did for the discos and gencos, giving billions of our commonwealth to private enterprises who in turn use the money to make more money and yet not impact the life of the common man.

deomelo:




What is wrong with telecoms? Telecoms is the backbone and foundation of tech and economic advancement, without you are going nowhere.


Looks like these old politicians are smarter and more sensible than the so called Nigerian youths.

Ogbeni which telecoms dem wan use the money for?

Dem Neva privatise telecoms industry since?

$328million to boost their 2019 election money and to boost their pockets.

THEY HAVE SOLD US AND OUR RESOURCES which means all our unborn generations and destinies wasted if we dont stop this madness by any means necessary. Naaaawaaaaoooh!!!

blackboy:
Telecoms? Hmmm China seems to be dictating or is this govt don't know priority

But some retards will still celebrate it. Nigeria as a country cannot move forward from what Iam seeing now, it's the hard truth.
How can a country like Nigeria be collecting loan for telecommunication when there is epileptic power generation, no good roads etc.

Was this Buhari's plan?...to secure loan to boost telecoms? If yes...isn't this a private sector matter? If no...then he is dictated to by the Chinese. Is that a priority over electricity?...and most importantly.... what are the conditions of the loan? What do we have to give up in return for the loan?...who would control that sector if and when it comes on board? Loans have to be repaid...how will we?...maybe with oil.The Chinese are long-term planners.... we are short sighted.... very short sighted. The Chinese are coming.....like a thief in the night... taking control little by little...while we are shouting development...we will get there... in 30 years..when our eyes are cleared...we will be second class citizens in our own land. Zimbabwe all over again...minus the likes of a Nelson Mandela.

tolexy007:
Trust me, China will soon buy Nigeria. Nigeria is a funny country we are taken loan of $328million while we are sharing $500 million recover from abacha loot, is this gov serious at all?

This country is a joke.... These people are Daft n lifeless