President to travel to China in March over $2bn loan

Buhari will expectedly travel to the Asian country after the necessary negotiations for the loan have been completed by Finance Minister, Kemi Adeosun during an earlier visit.

President Muhammadu Buhari

Buhari will expectedly travel to the Asian country after the necessary negotiations for the loan have been completed by Finance Minister, Kemi Adeosun during an earlier visit.

This was disclosed via a report published on the website of Chinese TV syndicate, CCTV Africa.

The report reads:

“An advance team headed by the finance minister is expected to travel to negotiate the loan and President Buhari would travel to China to sign the loan in March.”

“President Muhamadu Buhari recently presented an ambitious budget to Nigeria’s parliament. At 30 Billion dollars, it is the highest Budget proposal in Nigeria’s history.”

“Analysts think Buhari’s administration is attempting to spend its way out of recession by investing a huge chunk of the budget in infrastructure but he doesn’t have access to funds for that.”

“Development expert Jayi Gaskia thinks Nigeria needs the loans for immediate budgetary support but a major bailout could be imminent unless a resurgence in crude oil prices happens soon.”

Buhari is currently in Saudi Arabia on an official visit.

----------------------------------------

See Pulse Photo-News gallery below:

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.

Eyewitness? Submit your stories now via social or:

Email: eyewitness@pulse.ng

Recommended articles

Alleged 109. 5bn fraud: Court adjourns trial of ex-AGF Idris, others until Oct.4

Alleged 109. 5bn fraud: Court adjourns trial of ex-AGF Idris, others until Oct.4

Kwara Govt. signs minimum wage agreement with tertiary institutions

Kwara Govt. signs minimum wage agreement with tertiary institutions

JAMB releases results of 2022 UTME mop-up examination

JAMB releases results of 2022 UTME mop-up examination

TASCK announces Launch of #Vote4Nigeria Campaign

TASCK announces Launch of #Vote4Nigeria Campaign

BREAKING: Terrorists release 7 more hostages from Abuja-Kaduna train attack

BREAKING: Terrorists release 7 more hostages from Abuja-Kaduna train attack

After commissioning projects, I will start politics - Wike

After commissioning projects, I will start politics - Wike

Why is Wike so important to PDP? [Pulse Editor's Opinion]

Why is Wike so important to PDP? [Pulse Editor's Opinion]

2023: APC promises to place more priority on workers’ welfare in Niger

2023: APC promises to place more priority on workers’ welfare in Niger

Insecurity: Katsina lawmakers plan to meet Masari, Buhari

Insecurity: Katsina lawmakers plan to meet Masari, Buhari