Shell Energy Entrepreneurs banner Yudala banner
China mulls $40b investment in Nigeria

By News Express on 12/01/2017

Share on facebook Yahoo mail icon Gmail icon

Views: 692

•China’s Foreign Affairs Minister, Wang Yi.
•China’s Foreign Affairs Minister, Wang Yi.

China is investing additional $40 billion in Nigerian economy, its Foreign Affairs Minister, Mr Wang Yi, said on Wednesday at a bilateral meeting with his Nigerian counterpart, Mr Geoffrey Onyeama, in Abuja.

The Minister said China has already invested up to the tune of $45 billion in the Nigerian economy.

“Nigeria and China are strategic partners; our relations have been developing well. China has already invested or financed a total number of $22 billion projects here in Nigeria, another $23 billion projects are on-going.

“In addition, we are also following up another over $40 billion of investments which is in the pipeline.

“Compare with the size, population and markets of our two countries, our cooperation still have large potential to be deepened.”

According to him, in order to achieve further development and prosperity of the two countries, we need to strengthen our political mutual trust, deep complementary between our developments.

He stressed on the need to further expand practical cooperation and deepen strategic partnership between the two countries.

He expressed confidence that his visit would be a successful one and play a dual role in further strengthening the strategic partnership between China and Nigeria.

Yi said the purpose of his visit to Nigeria was to implement the important agreements and cooperation reached between the Chinese and Nigerian presidents.

He said the visit was also to help work closely with Nigeria to ensure that the outcome of the Forum for China-Africa Cooperation Summit is well implemented here in Nigeria.

Onyeama had earlier commended the existing relationship between Nigeria and China noting that the relationship had been strong for many years.

“I think the level of cooperation with China is extremely high and Chinese government is investing amount of money in Nigeria and probably is going up to $60 to $80 billion and we are extremely happy for that.”

He said that at the last meeting in South Africa and the government of China made available the total of $60 billion for Africa and a number of countries including Nigeria.

The Minister said that he would want to key in and see how much of that could be used to assist in the various projects that we have in this country.

He explained that President Muhammadu Buhari was in China in 2016 and had a discussion with Chinese Government on various levels of cooperation.

“We know that in the area of infrastructure which is one of the priority areas and diversification the programme of this government from oil, the Chinese government has been showing a lot of cooperation with us in this area especially in the area of transportation.” He said.

The News Agency of Nigeria (NAN) reports that the Minister of Transport, Mr Rotimi Amaechi was part of the meeting. (NAN)

 

 

Source News Express

Posted 12/01/2017 12:41:53 AM

 

Share on facebook Yahoo mail icon Gmail icon


 

CLASSIFIED ADS

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

 

You may also like...
Obiano flags off construction of $11.4m modern abattoir...

I will expose Governor Okorocha, others —Social crusader,...

Fitch casts fresh vote of confidence for Nigerian...

Danger signal: Rome days away from bankruptcy

Leicester show championship charm again, stun Manchester City...

Lassa fever: Establish diagnostic centre, Red Cross tells...

A Nigerian miracle: Muslims storm church for Christmas...

Banks to publish names of debtors by August...

NAF to use local materials for uniform: Chief...

War rages as military battles to retake border...

Senator accuses ex-minister Sam Egwu of tribalism •Quotes...

Naira likely to gain more strength this week...

 

Latest News Robbery scandal: Music star Burna Boy surrenders to police 4 killed, 160 wounded in Jerusalem protests NAF helicopters, fighter jets unleash fire on Boko Haram settlements Sultan to train 200 orphans caused by insurgency Muslim, Xtian leaders meet in Lagos Activists spoil for war with IGP over continued sealing of Peace Corps headquarters in defiance with court order Delta LG polls: Okowa predicts landslide victory for PDP Lagos CP orders arrest of female lawyer over alleged abuse of house help Supreme Court dismisses appeal to stop investigation into N1.8bn subsidy fraud PDP convention: Reconciliation in South-West successful, says Dickson All set for multiple celebration of Obuah in Port Harcourt Expect hazy, sunny, cloudy weather on today – NiMet

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (301,666 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (286,469 views) Shameless Genevieve Nnaji exposes breasts in public (231,045 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (193,836 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (183,711 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (170,825 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (147,531 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (132,737 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (130,934 views) Lagos plane crash: Journalist releases victims’ names (119,382 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (115,756 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (112,535 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (33) Business (2,823) Business Verdict (30) Columnists (779) Complaints & Requests (94) Enterprise & Opportunities (195) Entertainment (421) Features (523) Global Business Monitor (196) International (1,693) Interviews (138) Live Commentary (28) Love Matters (92) News (31,059) Opinion (845) Pidgin (9) Politics (4,224) Religion (654) Sports (1,381) Stock Watch (25) AMA & Al Jazeera Global Update

 

CBN Banner advert

CBN Words on marble

 

 

MOBO Awards

 

APO Group Partner

 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement



 

 

CLASSIFIED ADS

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!