Apparently to secure firm repayment plan and to understudy viability or otherwise of key sectors for which Nigeria is seeking a $20b loan from the China EXIMbank, the Chinese government has listed certain demands to be met by the Federal Government.

Part of the conditions, According to the Guardian is for the Federal Government, through representatives from key ministries such as Finance, Budget and National Planning, Foreign Affairs, among others, to fine-tune terms and agreements, including possible repayment plan with the China Ministry of Commerce.

It was also learnt that the correspondences between the two countries are also to fast-track the understudying of key areas Nigeria needs the concessionary loan for, and for the purpose of making advisory contributions on the way forward.

Other conditions include; appointment of key Chinese officials to closely supervise funds released to the Nigerian government on loan agreement.

It would be recalled that Minister of Budget and National Planning, Udoma Udo Udoma in Beijing recently requested the Chinese government to assist Nigeria financially in funding critical infrastructure in the country. He presented a request for $20billion concessionary loan.. Continue reading at: http://onomenews.blogspot.com.ng/2016/08/see-extreme-conditions-china-gives-to.html