Quickly Approve $500M Loan For Nigeria - Lai Mohammed Begs China | DETAILS

[caption id="" align="alignnone" width="600"] Minister of Information and Culture, Alhaji Lai Mohammed, presenting a Bida Brass Work as a souvenir to the Chinese Ambassador to Nigeria, Mr. Chui Jian Chun, when he paid a courtesy visit to the Minister in Abuja on Thursday.[/caption]

Lai Mohammed made the appeal to the Chinese Ambassador to Nigeria, Chun Jian Chun, on Thursday, March 17, 2022 in Abuja.

[caption id="" align="alignnone" width="600"] Minister of Information and Culture, Alhaji Lai Mohammed (second left); Chinese Ambassador to Nigeria, Mr. Chui Jian Chun (third left) and other delegation from the Chinese Embassy, when the Ambassador paid a courtesy visit to the Minister in Abuja on Thursday.[/caption]

He said the need to fast-track the evaluation and approval of the loan is for the execution of three major projects in the broadcast sector.

A statement signed by the Special Assistant to the President on Media, Office of the Minister of Information and Culture, Segun Adeyemi, quoted the Minister as saying;

"Worthy of mention, Your Excellency, is the $500 million loan which we are seeking from the China Export-Import Bank for three major projects - the digitization of the NTA, the construction of a headquarters complex and transmission network for Integrated Television Services, a Federal Government-owned signal distributor that is a major component of the country's Digital Switch Over, and the construction of an ultra-modern Media City in Ikorodu.

ÔÇØI want to use this opportunity to appeal to Your Excellency to continue to use your good offices to fast-track the evaluation and approval process of the loan by the China Export-Import Bank, and to thank you for your efforts so far in this regard.

"There are two MoU between Nigeria and China on the Facilitation of Group Travels by Chinese Tourists to Nigeria and Travel Facilitation through the Approved Destination Status. Though the two MoU date back to 2019, they have not been signed. It is important that our two countries work together to negotiate and sign these MoU to promote tourism between them.ÔÇØ

Responding, Ambassador Chui said China was re-strategizing its bilateral relations with Nigeria to focus on Growth, Development and Progress.

He said the new strategy, tagged '5 GIST' will be a holistic, complete and sustained approach to focus on political support, economic cooperation, security and military collaboration, international affairs coordination, infrastructure, ICT, industry, investment, import and export, among others.

The Ambassador said the new focus will be anchored on people-to-people communication and relationship as well as cultural exchanges.