President Muhammadu Buhari will sign a loan deal with China during a visit next week. The loan deal is to help finance badly-needed infrastructure projects in Nigeria.
Buhari's spokesman Femi Adesina stated that both countries will also be signing some bilateral agreements to strengthen their relationship. Adesina did not disclose how much the loan will be, stating that he cannot disclose the amount until the day the loan is signed.
Nigeria, which has been hit by a slump in oil prices, has been in talks with China's state export import bank for months. A financial source said that the loan would fund construction works of Chinese firms for infrastructure projects in Nigeria.
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