China loans Nigeria $328 million to boost telecoms - Nigeria presidency


  • World
  • Saturday, 01 Sep 2018

Nigeria's President Muhammadu Buhari adjusts his translation device during a news conference at the presidential villa in Abuja, Nigeria, August 31, 2018. REUTERS/Afolabi Sotunde

ABUJA (Reuters) - China's Exim bank will lend Nigeria $328 million (£253.1 million) towards improving the west African country's telecoms infrastructure, Nigeria's presidency said on Saturday, at the start of a six-day visit by President Muhammadu Buhari to the country.

Poor telecoms are a major challenge for businesses operating in Nigeria, which is Africa's largest oil producer, most populous country and has one of the continent's largest economies.

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