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Monday, 18 April 2016

News- Presidency says Buhari didn't sign loan in China

 Presidential media aide Femi Adesina has disclosed that Muhammadu Buhari didn’t sign $2 billion to fund the budget during his latest trip to China. Adesina, speaking on O&M Sunday Show on AIT, said Buhari didn’t discuss loan with China, adding that the trip ended up attracting investment worth $6 billion to the country.
According to,He said“The issue of loan didn’t arise during the president’s trip to China, not even an emergency loan was discussed. “The president went there and signed agreements that were in the interest of Nigeria. We should know that this president knows what is good for the country.” “Every nation has a room for comic relief. If someone chooses to be so idle and be entertaining others, so be it,” he added on the letter which Ayo Fayose, Ekiti state governor, wrote to the Chinese government to stop the alleged loan. “I am sure so many people laughed when they saw the letter. The president is a serious-minded person who chooses not to be distracted.” “The president is embarking on these trips in the interest of the country, so if what will prosper Nigeria abroad requires him to travel, he will,” Buhari’s aide continued. “Let me share this with you. During the last Sallah celebration in September, the president traveled to Katsina in the morning, he took part in the activities and by 2pm, he was on his way to the United States to represent Nigeria at the UN General Assembly. “Now, if not for the love for his country, will the president not have stayed back to celebrate with his family?”

There were reports that President Buhari visited China to sign a loan infrastructure projects deal worth about $2 billion and the low interest loan is to be deployed to finance the N3 trillion deficit in the budget. Governor Fayose has written to the Chinese government, requesting they not approve a billion-dollar loan to Nigeria. China offered Nigeria a $6 billion loan to fund different infrastructure projects, according to Nigerian Foreign Minister Geoffrey Onyeama, after talks between Buhari and Chinese President Xi Jinping. Fayose’s criticism of the Nigerian president is not without precedent. The Ekiti governor previously attacked Buhari for attending a nuclear summit in USA from March 31-April 3 while Nigeria was suffering power outages and a fuel crisis that has seen massive queues gather outside gas stations across the country.