Buhari in Saudi Arabia to negotiate secret Islamic loan

There are indications the Saudi Arabian government may offer Nigeria about $2.5billion to supplement her budgetary funding,unconfirmed report from government circle has revealed.

Saudi Arabia has of recent offered financial support to Egypt, Sudan and some other Islamic allies hard hit by the slump in oil price.

Sahel Standard gathered that the arrangement is however not a formal loan as Riyadh adopted the approach as a way of gaining and retaining goodwill among close allies.

Insiders revealed that General Muhammadu Buhari may however consider the implications as Saudi Arabia will then expect Nigeria to unconditionally support her foreign policy.

Nigeria is however considered a close ally by Saudi Arabia especially with Abuja attitudes to the Iranian-Saudi conflict.

It would be recalled that the northern state governors had recently approached the Saudi Arabia dominated Islamic Development Bank for developmental loan.

Buhari is presently on a three nation tour of some gulf arab states.

-Sahel Standard