Home News We’ll optimally utilise loans from China – FG

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 the 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.”