China has agreed to lend Nigeria $2.5bn for infrastructure projects in a renewed attempt to win access to markets and energy reserves in Africa’s main oil exporter.

Beijing has extended increasingly attractive offers of financial support to Nigeria in recent months to forge a closer relationship with Umaru Yar’Adua, Nigeria’s president who took office last May.

Odein Ajumogobia, Niger­ia’s oil minister, said Beijing had offered the $2.5bn (€1.6bn, £1.3bn) loan in parallel with talks about gaining energy exploration rights, though he said no specific oil blocks were tied to the agreement. ... Read full article