Responsive Ad Slot

Exchange Cryptocurrencies Instantly


Oby Ezekwesili, Reno Omokri react to Buhari signing $328m Chinese loan

Monday, 3 September 2018


Senior special assistant to President Muhammadu Buhari on media and publicity, Mr Garba Shehu disclosed on Saturday, that Nigeria has signed a $328 million agreement with China on the National and Communication Technology Infrastructure Backbone (NICTIB) Phase 11.

The agreement according to NAN was signed when Buhari arrived in Beijing, China, for the 2018 Forum on China–Africa Cooperation (FOCAC), with Chinese President Xi Jinping witnessing the signing.

It was also disclosed that the project will be executed by Galaxy Backbone Limited and Huawei Technologies Limited (HUAWEI) while funding will come from the Chinese EXIM Bank.

Former presidential aide, Reno Omokri taking to his Twitter handle, said the president and his government of sharing $322 million Abacha loot to the ‘poor’ but has now signed a $328 million ‘soft loan’ agreement in China, an act, he says is an evidence of ‘lifelessness’.

Reacting to the news, Former Education Minister Oby Ezekwesili said Chinese attitude to Indebtedness is the hardest in the world. She said she knows this because they had to deal with it in the course of their work at the World Bank, helping African countries to get the HIPC Debt Cancellation.

She noted that countries are best advised to avoid the riskiest debt types especially the Chinese genre – that has been happening across Africa in recent times.

She wrote:


Let's block ads! (Why?)


No comments

Post a Comment

Don't Miss