Amidst criticisms of his frequent overseas trip,
President Muhammadu Buhari on Friday
expressed satisfaction that his just-concluded one
week official trip to China had yielded over $6bn
additional investments for Nigeria.
The Senior Special Assistant to the President on
Media and Publicity, Garba Shehu, disclosed this
in a statement made available to journalists.
Shehu said the President believed that the
agreements concluded with the Chinese during
the visit would have a huge and positive impact
on key sectors of the Nigerian economy including
power, solid minerals, agriculture, housing and
rail transportation.
He said, “In the power sector, North South Power
Company Limited and Sinohydro Corporation
Limited signed an agreement valued at
$478,657,941.28 for the construction of 300 Mega
Watts solar power in Shiroro, Niger State.
“In the solid minerals sector, Granite and Marble
Nigeria Limited and Shanghai Shibang signed an
agreement valued at $55m for the construction
and equipping of granite mining plant in Nigeria.
“A total of $1bn is to be invested in the
development of a greenfield expressway for
Abuja-Ibadan-Lagos under an agreement reached
by the Infrastructure Bank and Sinohydro
Corporation Limited.
“For the housing sector, both companies also
sealed a $250m deal to develop an ultra modern
27-storey high rise complex and a $2.5bn
agreement for the development of the Lagos
Metro Rail Transit Red Line project.”
According to the presidential spokesman, other
agreements announced and signed during the
visit included the establishment of a Hi-tech
industrial park in Ogun-Guangdong Free Trade
Zone in Igbesa, Ogun State.
He added that the Ogun-Guangdong Free Trade
Zone and CNG (Nigeria) Investment Limited also
signed an agreement valued at $200m for the
construction of two 500MT/day float gas facilities.
“An agreement valued at $363m for the
establishment of a comprehensive farm and
downstream industrial park in Kogi state was
also announced at the Nigeria-China business
forum.
“Other agreements undergoing negotiations
include a $500m project for the provision of
television broadcast equipment and a $25m
facility for production of pre-paid smart meters
between Mojec International Limited and
Microstar Company Limited.
“About 100 Nigerian businesses and 300 Chinese
firms participated in the Nigeria-China business
forum which took place a day after President
Buhari began his visit to China,” Shehu added.
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