Presidency Says Nigeria Sealed $10bn Agreements In China



The Presidency said on Saturday that Nigeria signed 13 deals worth $10billion at the just-concluded Forum on China-Africa Cooperation summit in Beijing, China.

The Senior Special Assistant to President Muhammadu Buhari on Media and Publicity, Garba Shehu, stated that the deals signed by President Buhari and his delegation bordered on direct investments, job creation, infrastructure financing and Information Communication Technology.

In a statement he titled, ‘President Buhari’s takeaways from FOCAC Beijing Summit’, Mr. Shehu disclosed what he saw as Nigeria’s achievements from the President’s six-day working visit to China.

According to him, there were other deals still being negotiated, the 13 already signed were worth $10bn.

Shehu said, “Among the several outcomes of the engagements of President Buhari and his delegation at the FOCAC Beijing summit were the many agreements and Memoranda of Understanding signed between the Nigerian Government and Chinese businesses, and between Nigerian businesses and their Chinese counterparts.

“The Nigerian delegation was able to sign 13 agreements during the summit out of 25, with more to be signed by the Nigeria Investment Promotion Council and the Attorney General and Minister of Justice of the Federation.

“In all, more than $10billion agreements were signed.

“Others, still under discussion will be quantified upon the conclusion of discussions by various parties.”

Among the deals is the agreement by China National Petroleum Corporation to secure funding for the Nigeria National Petroleum Corporation, Ajaokuta–Kaduna-Kano (AKK) gas pipeline to cost $2.8bn, he said.

The Nigerian National Petroleum Corporation also sealed another agreement with Nanni Good Fortune Heavy Industries Group and Capegate Group for a $400m investments across six states, he added.


Categories: News


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