President Buhari met with Zhang Dejiang, Chairman Standing Committee of the National People’s Congress of China

President Buhari in China Gistyinka

According to statement by Minister of Foreign Affairs, Geoffrey Onyeama says that China has granted Nigeria $6 billion  loan to fund infrastructure project in Nigeria.

“It won’t need an agreement to be signed; it is just to identify the projects and we access it,” he said.

Over the past few months, the administration of President Buhari has been looking for sources to fund a projected N2.2 trillion ($11.1 billion) deficit in the 2016 Budget, as the president plans to triple capital spending in the 2016 fiscal year.

According to report by Reuters, Nigeria also entered a currency swap deal with China as the Industrial and Commercial Bank of China Ltd (ICBC), the world’s biggest lender, and Nigeria’s central bank signed a deal on yuan transactions. According to Lin Songtian, Director General of the African Affairs Department of China’s foreign ministry,

“It means that the renminbi (yuan) is free to flow among different banks in Nigeria, and the renminbi has been included in the foreign exchange reserves of Nigeria”

Here are official photos of President Buhari today in China.

President Buhari met with Zhang Dejiang, Chairman Standing Committee of the National People’s Congress of China
President Buhari met with Zhang Dejiang, Chairman Standing Committee of the National People’s Congress of China
President Buhari signs the Special Visitors’ Book at the Forbidden City – former Chinese Imperial Palace
President Buhari signs the Special Visitors’ Book at the Forbidden City – former Chinese Imperial Palace

President Buhari in China Gistyinka 01

President Buhari in China Gistyinka 03

President Buhari visited the China Aerospace Science Technology Corporation Centre in Beijing
President Buhari visited the China Aerospace Science Technology Corporation Centre in Beijing
President Buhari alongside with Power, Works & Housing Min Tunde Fashola today at the China Aerospace Science Technology Corporation Centre
President Buhari alongside with Power, Works & Housing Min Tunde Fashola today at the China Aerospace Science Technology Corporation Centre

President Buhari in China Gistyinka 08

President Buhari commissioned the new residence of the Nigerian Ambassador to China
President Buhari commissioned the new residence of the Nigerian Ambassador to China

President Buhari in China Gistyinka 10

President Buhari met with the Nigerian Community in China, at the Nigerian House in Beijing
President Buhari met with the Nigerian Community in China, at the Nigerian House in Beijing

President Buhari in China Gistyinka09

Photo Credit: twitter.com/NGRPresident | twitter.com/geoffreyonyeama

By gistyinka

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