Buhari visits China on Monday, may sign $2bn loan deal

After a four-day visit to the United States of America, where he attended the Neclear Energy Summit hosted by President Barrack Obama, President Muhammadu Buhari is scheduled to begin another five-day visit to China beginning from Monday.

The President is also expected to sign a $2 billion loan facility with the Chinese government.

President Buhari’s visit to China was announced on Wednesday by the spokesman of the country’s foreign affairs ministry, Lu Kang, adding that the visit, which will be between Monday and Friday, was on the invitation of the Chinese President, Xi Jinping.

“China and Nigeria enjoy a traditional friendship. This year marks the 45th anniversary of China-Nigeria diplomatic ties,” Lu said at a daily press briefing.

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President Buhari is expected to hold talks with President Xi Jinping and Premier Li Keqiang as well as top legislator, Zhang Dejiang at separate meetings.

According to Lu, who called Nigeria a major strategic partner of China in Africa, said the two countries have maintained frequent high-level visits, cooperated for strong results and maintained positive communication and coordination in international affairs over the past 45 years.

“We believe President Buhari’s visit will give new impetus to the all-round development of the China-Nigeria strategic partnership of cooperation,” Lu said.

The President is also expected to visit Shanghai, an economic hub in east China, and Guangzhou, capital of south China’s Guangdong Province.

The loan deal was confirmed by a presidential spokesman, Femi Adesina, who however declined to reveal the amount.

“I can’t tell you how much until the day the loan will be signed. Both countries will also be signing some bilateral agreements to strengthen their relationship, which is all I can say now.”

It was however reported back in February, that the loan deal President Buhari will be signing with his Chinese counterpart is in the region of $2 billion.

 

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