Nigeria To Sign $2bn Deal With China As Buhari Pays 4-Day Visit Next week

PRESIDENT Mohammadu Buhari will pay a 4-day working visit to the Peoples Republic of China from April 11-15 which will be climaxed by the signing of a corporation agreement/loan deal between the two countries valued at about $2billion aimed at infrastructural developmental projects in the country.

 

In a statement by the Special Adviser to the President, Femi Adesina on Wednesday, the visit was propelled by the need for the two countries to mutually strengthen economic relations, however declined to give the exact figure of the loan deal stating that it was premature since negotiations on the bilateral agreements have not been concluded.

From investigations, the loan deal would facilitate the construction works by some Chinese firms on infrastructural projects in the country.

Similarly, it would be recalled that the Agriculture Minister, Chief Audu Ogbeh earlier in November gave hint that Chinese firms would be deployed towards setting up about 40 rice mills in pursuit to President Buhari’s policy of diversification of the economy, precisely expanding the agricultural sector as well as adopting mechanized farming in the country for sustainable productivity.

The Chinese Foreign Ministry spokesman, Lu Kang, also had confirmed the presidential appointment that President Buhari will lead a Nigerian delegation to China from April 11-15 to sign “cooperation agreements” and attend a business forum. 

In a similar vein, the China Ambassador to Nigeria, Gu Xiaojie, who catalogued the benefits of the visit to the two countries, in a statement issued in Abuja on Tuesday, said the visit would be Buhari’s first visit to China since he came to office last May.

“In 2014, Chinese Premier, Li Keqiang, visited Nigeria and reached extensive consensus with Nigerian leaders. Last year, Chinese President Xi Jinping, met with Nigerian president twice, exchanged views on bilateral relations and issues of common concern, reached wide-ranging agreements and charted the direction of future development of China-Nigeria relations.

‘’Economically, the cooperation between China and Nigeria in various areas such as infrastructure, energy, trade and finance, has scored impressive achievements. Nigeria is the first African country to accept Chinese RMB in its foreign reserve", he said.