Wednesday , June 26 2019
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We’ll optimally utilise loans from China – FG

The Federal Government has reiterated its commitment to use monies borrowed from the Chinese government for the development of Nigeria.

The Finance Minister, Zainab Ahmed, who stated this while debunking claim that money borrowed from the Chinese have not been well utilised, said: “Maybe in the past, some borrowings have been made and not utilised but the current administration is borrowing for projects and have been utilised. Nigerians can see it all over the place.

“We are focusing on three objectives: restoring and sustaining growth, building a competitive economy and investing in our people.”

Ahmed gave the assurance at the weekend in Lagos at this year’s Chinese Mid-Autumn Festival and Welcome the National Day attended by wife of former President Olusegun Obasanjo, Bola Obasanjo; Secretary to Lagos State Government, Dr. Tunji Bello, among other dignitaries.

The minister said: “I think today’s event is an excellent initiative. It is a very good thing to do to further strengthen our relationship.

“We invite more Chinese to come to Nigeria because we are open for business.

Meanwhile, Chief Executive Officer (CEO) of Seven Stars Tissue Paper, Eric Ni, said: “China and Africa are closer than ever. We are family.”


About Lanre Oyetade

A multiple award winner in Economics and business journalism, Lanre Oyetade has served close to two decades in the media industry, spanning different notable stables, where he is privileged to have risen to the position of a title editor. A masters degree holder in Economics from the University of Lagos and doctoral student at the Babcock University, he is a winner of the prestigious NMMA Capital Market Award for two consecutive years (2004 & 2005), and was also a nominee for the body’s banking and finance and money market awards for two years. In 2013, he also won the Most Outstanding Business-Reporting Title Editor award of the National Institute of Marketing of Nigeria (NIMN). A minister in the LORDS’s vineyard, he has been an inspirational speaker and resource person at many corporate and religious fora since early 2004, and has so far authored three books on the capital market; on personal effectiveness, and on personal finance, in 2008 and 2014, respectively.