Nigeria, China Sign $500m Aviation Deal

The Federal Government and China have signed a $500 million loan agreement for the construction of four new international airport terminals in Abuja, Lagos, Port Harcourt and Kano.

 

The Agreement is one of many others and Memorandum of Understanding (MoU) signed in Beijing, as President GoodluckEbele Jonathan commenced a visit to China.

 

In a statement by the Special Assistant (Media) to the Aviation Minister, Joe Obi yesterday, commencement of construction work on the terminals had been on hold pending formal signing of the loan deal which will be financed by the Chinese EXIM Bank.

 

In her remarks, the Coordinating Minister for the Economy and Finance Minister, Dr. NgoziOkonjo-Iweala expressed satisfaction that the loan deal for financing the construction of the terminals have finally been sealed.

 

--------The Nation