• Buhari in China to borrow ‘cheapest money’ to finance 2016 Budget deficits, says Kemi Adeosun

    Buhari in China to borrow ‘cheapest money’ to finance 2016 Budget deficits, says Kemi Adeosun

    The Minister of Finance, Kemi Adeosun has revealed the reason behind President Muhammadu Buhari’s trip to China.

    According to Adeosun, the President’s visit to China was aimed at building a stronger ties with the Asian country and to “borrow the cheapest money possible” to finance the 2016 budget deficit.

    Speaking with Financial Times and Reuters, the Minister said the country was considering selling a Chinese panda bond to help finance a budget deficit of about $11bn.

    Adeosun said, “we are looking obviously at […]