Why The Chinese May Not Fund Nigeria’s Projects

I don’t envy Government Minister Udo Udoma at this time. He traveled to China to convince the Chinese to fund Nigeria’s infrastructural projects. But I fear that unlike when Jonathan went and secured a loan for railway development, this may be a tall order.

The reason I say this is that crude oil, our mainstay, is no longer the black gold it used to be. During Jonathan’s time, there wasn’t an oil glut. Countries were not refusing to buy our oil because they had many other alternatives. Crude oil was a firm collateral.

I am not saying Udo Udoma has no chance of success convincing the Chinese to fund us. Just that that kind of job has gotten a lot harder. Udo Udoma will have to squeeze water out of stone (not out of foam) to succeed.

By OzoIgboNdu1 of Igbo Defender

Digital marketer and Marketing analyst

Leave a comment

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.