BREAKING: FEC Okay Another $1bn Chinese Loan

The Federal Executive Council has approved another $1billion Chinese loan to be sourced from the China-Exim Bank for the Gurara II Hydropower project.

The Minister of Water Resources, Mr Sulieman Adamu, confirmed the approval of the loan by FEC on Wednesday.

The government says power project will generate 360 megawatts of electricity.

President Muhammadu Buhari presided over the FEC meeting at the Presidential Villa, Abuja.

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Categories: News

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