NIGERIA- The Federal Executive Council has approved another $1billion Chinese loan. It will be sourced from the China-Exim Bank for the Gurara II Hydropower project.
The power project is planned to generate 360 megawatts of electricity.
The Minister of Water Resources, Mr Sulieman Adamu, has just confirmed the approval of the loan by FEC.
President Muhammadu Buhari presided over the FEC meeting at the Presidential Villa, Abuja.