Chinese Loan: Investors will remain reluctant to commit money to Nigeria until - Forbes thrashes Buhari's Chinese deal

Chinese Loan: Investors will remain reluctant to commit money to Nigeria until - Forbes thrashes Buhari's Chinese deal

The Forbes has described the recent Nigeria-China deal brokered by General Muhammadu as a short-term fix that will put Nigeria in deeper trouble in the coming years. According to the report, Buhari's borrowing of the money without any clear and feasible repayment plan will worsen Nigeria's economic woes. Moreover, it would not ease the pressure on dollar unless crude oil prices improves. So at the end of the day, Nigerians have just been handed over a counterfeit. Read the report below:

Drowning Nigeria turns her back on Europe. Goes after Chinese loan

Drowning Nigeria turns her back on Europe. Goes after Chinese loan

Days after a human rights lawyer, Femi Falana, urged the Nigerian government to jettison its plan to secure a $3.5 billion (about N700 billion) loan from the World Bank and the African Development Bank, Nigerian Finance Minister Kemi Adeosun plans to travel to China next week, aiming to negotiate a loan of up to $2 billion to help fund record budget spending.