Buhari didn’t sign any loan deal with China – Presidency

The Presidency on Saturday said President Muhammadu Buhari did not sign any loan deal with the Peoples Republic of China during his just-concluded one-week working visit to the country.

The Special Adviser to the President on Media and Publicity, Mr. Femi Adesina, gave the clarification in an interview with Pun

Ahead of Buhari’s trip which started last Sunday, there were media reports that he would sign a $2bn loan deal with China during the visit as the Federal Government sought funds to finance the over N2tn budget deficit.

Reuters had reported that Adesina confirmed that loan agreement would be signed but he could not say how much until it was signed.

But the presidential spokesman told our correspondent on Saturday that there was no iota of truth in the report.

“There was no loan deal during the President’s visit to China. All that is coming are investments into Nigeria,” he stated.

At the conclusion of the visit on Friday, the Presidency had said the President’s trip yielded over $6bn additional investments for Nigeria.

The Senior Special Assistant to the President on Media and Publicity, Garba Shehu, disclosed this in a statement made available to journalists.