Nigerian Finance Minister Kemi Adeosun plans to travel to China next week, aiming to negotiate a loan of up to $2 billion to help fund record budget spending, financial and government sources said on Wednesday.
They also said Nigeria – which is suffering its worst economic crisis for decades – has shelved plans to meet investors about returning to commercial borrowing on the Eurobond market. One Nigerian government official told Reuters that any loan agreed during Adeosun’s trip could be signed by President Muhammadu Buhari in Beijing next month. An official said the finance minister, in the company of the central bank governor, is scheduled to be in China sometime next week to conclude negotiations on the $2 billion loan. With China largely closed for the Lunar New Holiday, it is unclear how keen Beijing is on the idea, or how tough a bargain it might demand. The official acknowledged negotiations had been underway for some time and that the terms had yet to be agreed. However, he added that hopefully it may be sorted out during this meeting and the loan will be signed during President Buhari’s visit to China in March this year.
 

Read more at Daily Mail