China Loans Nigeria $328 Million To Boost Telecoms - Business (4)

China Loans Nigeria $328 Million To Boost Telecoms - Business (4) - Nairaland

Nairaland Forum › Nairaland General › Business › China Loans Nigeria $328 Million To Boost Telecoms (20749 Views)

Re: China Loans Nigeria $328 Million To Boost Telecoms by persius555(m): 9:41pm On Sep 01, 2018

70% of that loan will find its way back to china as ZTE and Huawei supplies 80% of Nigeria's telecom equipments. The same companys are responsible for the failure of the $328 CCTV Surveillance contract that was signed by OBJs govt.

These chinese are smart. They know how to invest these monies and reap the benefit as immediate as possible. Givin loans to Nigeria is not an issue for them. Like somebody said, this money will be better off if directly invest in the power sector, especially the distribution and transmission arms.

3 Likes

Re: China Loans Nigeria $328 Million To Boost Telecoms by bestpunterever: 9:43pm On Sep 01, 2018

Money we den supposed borrow me

Re: China Loans Nigeria $328 Million To Boost Telecoms by stagger: 9:44pm On Sep 01, 2018

Chai!

So PMB even went cap in hand to beg for money. Na wa o.

1 Like

Re: China Loans Nigeria $328 Million To Boost Telecoms by richard870(m): 9:45pm On Sep 01, 2018

NobodyKnows:
Less than 12 hours wey baba land for China .we are already seeing positive results.
Mehn PMB is sweet mehn .
Sai baba till 2023 mehn .
Na the previous visit give birth to Lagos -Ibadan rail way.
More to come . God bless APC

Its obvious mediocrity has drained ur sanity

Re: China Loans Nigeria $328 Million To Boost Telecoms by SegunAj(m): 9:50pm On Sep 01, 2018

When you put the wrong candidate in that position what do you expect?with what we get from the Texas that's enough to boust the telecommunications in Nigeria I don't see any need to borrow money for it

Re: China Loans Nigeria $328 Million To Boost Telecoms by lastempero: 9:51pm On Sep 01, 2018

People don't even know how Chinese loans work, I guess China wants to throw away some of their obsolete Telecom technology n they will be using Nigeria as their dump site because Iam sure their loans doesn't come in cash. They will give u the obsolete technology together with manpower n even labourers that will execute the project.

1 Like

Re: China Loans Nigeria $328 Million To Boost Telecoms by NobodyKnows(m): 9:51pm On Sep 01, 2018

richard870:
Its obvious mediocrity has drained ur sanity

God bless President Muhammadu Buhari.
I can’t wait to vote for you in 2019

Re: China Loans Nigeria $328 Million To Boost Telecoms by maxzzo1(m): 9:54pm On Sep 01, 2018

Which telecom huh

Nitel ??

Re: China Loans Nigeria $328 Million To Boost Telecoms by Isaacmacdon(m): 9:55pm On Sep 01, 2018

I'm not in support of frequently accepting loans or grants when your debt has surpassed the $20billion dollar mark.
The States aren't even helping matters at all.
I think it's high we bring technocrats to the lore, and therefore paving the way for credibility and integrity.
I wonder why we've decided to keep on living backwards.

We always want to jump stages without properly making good use of our resources. It's quite sad to say the least.

Re: China Loans Nigeria $328 Million To Boost Telecoms by osothermal(m): 9:55pm On Sep 01, 2018

I see Huawei taking over the industry ,IHS be careful o

1 Like

Re: China Loans Nigeria $328 Million To Boost Telecoms by Nobody: 10:02pm On Sep 01, 2018

Heh. It will be 100% huawei and ZTE infrastructure. Complete with all the snooping Chinese are known for

1 Like

Re: China Loans Nigeria $328 Million To Boost Telecoms by Born2Breed(f): 10:05pm On Sep 01, 2018

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?

I tell you. I have never seen a stupid and foolish federal government like this present one since I was born.

Nigeria debt as at today is $23billion.

This dullard will soon exchange Nigeria for cows.

1 Like

Re: China Loans Nigeria $328 Million To Boost Telecoms by DKM123: 10:06pm On Sep 01, 2018

Hey God! Very soon they will borrow and borrow and last last the whole developed world will come and re-colonize again since we are owing them igbese in gazillions.

If this monies they keep borrowing from left, right and center were put to good use that could ACTUALLY develop the country so we can be in a position to pay back in the near future, it would have been understandable.

Instead this thieves called politicians end up squandering it and taking it back to those countries we borrowed it from through money laundering leaving us in irredeemable debts for life!

1 Like 1 Share

Re: China Loans Nigeria $328 Million To Boost Telecoms by Missonas(f): 10:07pm On Sep 01, 2018

Baba sef don dey borrow? Person wey fit comot next year. What about our recovered stolen money and the savings wey he talk about??

Re: China Loans Nigeria $328 Million To Boost Telecoms by 1Dray(m): 10:21pm On Sep 01, 2018

NobodyKnows:
Less than 12 hours wey baba land for China .we are already seeing positive results.
Mehn PMB is sweet mehn .
Sai baba till 2023 mehn .
Na the previous visit give birth to Lagos -Ibadan rail way.
More to come . God bless APC

When has taking loan now turned to positive results? Piling debt for the unborn generation now a positive results. This sai baba chanters can be very funny and unwise.

Re: China Loans Nigeria $328 Million To Boost Telecoms by Anyad231: 10:25pm On Sep 01, 2018

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.

U might be right but I promise you that these funds never get to the promised land...I would have preferred getting our electricity level to 100% and other infrastructural development including investments will follow automatically but no , u borrow funds ,in d end ,we will not see what d funds were used for. Buhari has been borrowing but we ain't seeing what d funds wereally used for . The abacha loot abeg with that ,why should we borrow more and increase out debt position.

1 Like

Re: China Loans Nigeria $328 Million To Boost Telecoms by Nakeph(m): 10:34pm On Sep 01, 2018

Who knows the animal that will make do with this fund...?

Re: China Loans Nigeria $328 Million To Boost Telecoms by NobodyKnows(m): 10:36pm On Sep 01, 2018

1Dray:
When has taking loan now turned to positive results? Piling debt for the unborn generation now a positive results. This sai baba chanters can be very funny and unwise.

Wow
God bless President Muhammadu Buhari.
Sai baba till 2023 .
I can’t wait to vote for APC

Re: China Loans Nigeria $328 Million To Boost Telecoms by Nobody: 10:36pm On Sep 01, 2018

;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;]

;;
money that will be used for next year election

2 Likes

Re: China Loans Nigeria $328 Million To Boost Telecoms by Nobody: 10:36pm On Sep 01, 2018

pocohantas:
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.

I would think we should do and have the bolded before we start and keep borrowing money from one place to another.

1 Like

Re: China Loans Nigeria $328 Million To Boost Telecoms by 1Dray(m): 10:37pm On Sep 01, 2018

NobodyKnows:
Wow God bless President Muhammadu Buhari. Sai baba till 2023 . I can’t wait to vote for APC

Buzuru, continue chanting sai baba.

Re: China Loans Nigeria $328 Million To Boost Telecoms by nextstep(m): 10:38pm On Sep 01, 2018

NobodyKnows:
Less than 12 hours wey baba land for China .we are already seeing positive results.
Mehn PMB is sweet mehn .
Sai baba till 2023 mehn .
Na the previous visit give birth to Lagos -Ibadan rail way.
More to come . God bless APC

Because a loan of $328 Million that will be repaid with interest, used to buy Chinese equipment, with no viable plan from this government to grow the economy sounds like a good idea abi?

We won't use $328 million to grow agriculture, fund SMEs, improve healthcare, or fix our universities - things that will grow our economy. Phones and cell towers are nice, but a loan facility does not bode well if used for purchasing consumer goods. You see, we will consume the cell phone and the equipment that come with them, but we will not have added an iota of engineering knowhow or job creation to our country, so where's the economic growth to pay for it?

BTW Isn't this the same PMB that was saying we won't take loans? Isn't this how we got into the massive debt that necessitated the SAP that crippled our economy for decades?

By the time we have to service the debts on these loans being made by the PMB administration, of course he would be long gone, his kids well taken care of, while we and our children will spend the last of our days paying more and more to service the debts.

1 Like

Re: China Loans Nigeria $328 Million To Boost Telecoms by colizee(m): 10:38pm On Sep 01, 2018

So nah election money this man go borrow for china...chisos

Re: China Loans Nigeria $328 Million To Boost Telecoms by CocoaOla: 10:40pm On Sep 01, 2018

And we don't have light for the past one week in Ajao after paying phcn bills and another bill is rolling in this country isa big jokes

1 Like

Re: China Loans Nigeria $328 Million To Boost Telecoms by NobodyKnows(m): 10:44pm On Sep 01, 2018

nextstep:
Because a loan of $328 Million that will be repaid with interest, used to sell Chinese equipment, with no viable plan from this government to grow the economy sounds like a good idea abi?

I can’t wait to vote APC in 2019

Re: China Loans Nigeria $328 Million To Boost Telecoms by Nobody: 10:51pm On Sep 01, 2018

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/

Buhari is a top notch idiot.

Re: China Loans Nigeria $328 Million To Boost Telecoms by nextstep(m): 10:53pm On Sep 01, 2018

lastempero:
People don't even know how Chinese loans work, I guess China wants to throw away some of their obsolete Telecom technology n they will be using Nigeria as their dump site because Iam sure their loans doesn't come in cash. They will give u the obsolete technology together with manpower n even labourers that will execute the project.

Of course! It's the greatest plan: throw away your old equipment, convince some idiot countries to pay for it, loan said countries to buy your obsolete equipment, then charge them interest on the loan.

I'm just shaking my head... these our leaders - from when they were lieutenants, till generals, till old men - have not once thought to increase our capacity for self-development. It's been 50-some years since Buhari was in his twenties... China and Korea went from backward impoverished countries, to a highly-developed economies... and he still things that buying technology is the way to go? None of these people have thought to study the examples right in front of them? SMH. With people like him in charge, we will still depend on foreign countries to make pencils for us in 2050. I can't wait for this current crop of old folks to keel over and die, so that the pre-colonial mentalities die with them.

1 Like

Re: China Loans Nigeria $328 Million To Boost Telecoms by sexyanyabubakar(f): 10:54pm On Sep 01, 2018

DKM123:
Hey God! Very soon they will borrow and borrow and last last the whole developed world will come and re-colonize again since we are owing them igbese in gazillions.

If this monies they keep borrowing from left, right and center were put to good use that could ACTUALLY develop the country so we can be in a position to pay back in the near future, it would have been understandable.

Instead this thieves called politicians end up squandering it and taking it back to those countries we borrowed it from through money laundering leaving us in irredeemable debts for life!

Re: China Loans Nigeria $328 Million To Boost Telecoms by umarazizz87(m): 10:55pm On Sep 01, 2018

We're sharing the Abacha loot because Switzerland says she would only return the money if Nigeria agrees to pay the money directly to the poor.

You're only displaying your ignorance posting this comment..

Re: China Loans Nigeria $328 Million To Boost Telecoms by pacificom: 11:00pm On Sep 01, 2018

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/

Perhaps such loan should be used to provide steady power over telecom.

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