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Budget 2017 : China may withhold $29.9b loans



China may withhold part of the $29.9 billion loans on which Nigeria partly pins its hope of financing next year’s N7.298 trillion budget.

The Chinese government is said to be upset by the Federal Government’s diplomatic recognition of Taiwan as a sovereign nation.

The “cold war” over Taiwan may also affect the implementation of the $80billion MoU between the Nigerian National Petroleum Corporation (NNPC) and China.

The Nation learnt that the Chinese Government raised the matter when President Muhammadu Buhari visited Beijing. He assured his hosts that the status of Taiwan Marketing Mission will be downgraded, nothing has been done, a source said yesterday.

Taiwan and its associated territories are regarded as a province of China.

But the Chinese government got intelligence report that Taiwan Marketing Mission had been operating as a full-fledged mission since the days of former President Goodluck Jonathan.

The Nation, December 16

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