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FG promises to utilise loans from China for projects


Minister of Finance, Hajiya Zainab Ahmed

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.

Member Representing Yewa South Ipokia Federal Constituency, Hon. Adekunle Akinlade(left); Wife Of Chief Olusegun Obasanjo, Mrs Bola Obasanjo And Chairman, Huaxing Arts Troupe Nigeria, Eric Ni at The Chinese Mid Autumn Festival & Welcome The National Day, In Lagos. PHOTO: Sunday Akinolu

Meanwhile, Chief Executive Officer (CEO) of Seven Stars Tissue Paper and Huaxing Arts Troupe Nigeria , Eric Ni, said: “China and Africa are more closer than ever. We are family.” we are growing stronger than ever. We have been celebrating this for the past 15 years in Nigeria, doing cultural exchange.

He noted that President Buhari and Chinese president met recently to sign an agreement and that indicated that we are always ready to support Nigeria. We are trying our best and working together as a family and I hope that within a short period, the economy will be better.

We are also supporting twenty students by giving them N50,000 each as scholarship. As part of our contribution to Nigeria, we support not less than 100 students across the country yearly.

On the seven  classrooms block built for LG Ise, Epe Primary school, he said, “we discovered they are in need of classroom and we decided to build that for them and we the hope to do more.

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