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Nigeria Borrows $1.1 Billion Loan From China

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Nigeria Borrows $1.1 Billion Loan From China

nigeria borrows from china

Sept 13, 2012 – Nigeria Borrows $1.1Billion From Loan China

The Federal Government Of Nigeria has borrowed a huge loan in the sum of $1.1 billion from Chinese EXIM Bank. naijagists.com

The loan was secured for the completion of Abuja Light Rail project and for the construction of 4 brand new modern Airport terminals across Nigeria

Here is the breakdown of the secured loan intention:

  • Abuja Light Rail project – $500 million
  • Galaxy Backbone ICT infrastructure – $100 million
  • 4 Modern Airport terminals design in Abuja,Enugu,Port Harcourt & Kano – $500 million

The Managing Director of EXIM Bank, Mr Sun Ping and Nigeria’s finance minister, Ngozi Okonjo-Iweala signed the loan agreement on behalf of Nigeria on Wednesday Sept 12, 2012.

This loan is too much! $1.1 billion = 173,800,000,000 (Over 173 Billions Of Naira)

Abeg make these people no sell Nigeria o.

Let’s wait and see what the outcome is.

13 Comments

13 Comments

  1. Mashood Almubarak

    September 13, 2012 at 3:48 AM

    Our leaders don't know what is the next thing for them to do. I don't even think they are themselves. Anyway let's all be prayerful coz I believe all shall be well one day.

    • Abdul-Baki Muhammad Jamiu

      September 13, 2012 at 7:46 AM

      Not only do they dont know what dey are doing but they are stupid as well. They obtain loan on behalf of d masses but end up diverting d money into private purse. We need a revolution in Nigeria.

  2. Samuel Lanre

    September 13, 2012 at 11:26 AM

    why did we depend on borrowing this another problem and we should remember in the past some government borrow urge amount of money through IMF without any achievement GOD SAVE NIGERIA.

  3. Mst legend

    September 13, 2012 at 3:54 PM

    Dat man “jona” shuld make sure he clear doze dept n intrest b4 leavin dat office.

  4. awajioriono Amon

    September 13, 2012 at 4:40 PM

    dis is an indirect way of salin nigeria 2 china, nigerians r livin above dia earning n dis wil result nigeria bin a slave 2 china, wel i dnt blame our leader coz democracy wich they say is d gov’t of d pple, 4 d pple n by d pple has bcom gov’t of d individual, 4 d individual n by d individual, dem wan thief d moni by usin nigeria’s name. Mek ona chop, na d only opportunity ona g8 b dis

    • King Joe

      September 19, 2012 at 9:45 AM

      Indeed salin. Sabotage

  5. Chekwube Okoye

    September 13, 2012 at 9:10 PM

    God grant us our heart desire. Nigeria wil stil rise. Ples pray nd nt criticise.

  6. Major

    September 14, 2012 at 7:51 AM

    have we become so poor that we can’t afford such amount

  7. Major

    September 14, 2012 at 7:55 AM

    abeg make we see d outcome of dis o. N Iweala n co. should betterclear dis dept o.

  8. Kasarachi umunna

    September 14, 2012 at 8:51 AM

    Diz government z stupid

  9. King Joe

    September 19, 2012 at 9:39 AM

    Yes, to pray is good but wisdom is profitable to direct. Our leaders lack Wizi n therefore lack direction.
    God save Nig.

  10. King Joe

    September 19, 2012 at 9:41 AM

    Yes, to pray is good but wisdom is profitable to direct. Our leaders lack Wizi n passion, therefore lack direction .
    God save Nig.

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