President Buhari Expresses Satisfaction Over Outcome Of China Visit

President Muhammadu Buhari has expressed satisfaction with the outcome of his visit to China, which has yielded additional investments in Nigeria exceeding $6 billion.

President Buhari believes that the several agreements concluded with the Chinese during the visit will have a huge and positive impact on key sectors of the Nigerian economy including power, solid minerals, agriculture, housing and rail transportation.

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 Shiriro, Niger State.

In the solid minerals sector, Granite and Marble Nigeria Limited and Shanghai Shibang signed an agreement valued at $55 million for the construction and equipping of granite mining plant in Nigeria.

A total of $1 billion 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 $250 million deal to develop an ultra modern 27-storey high rise complex and a $2.5 billion agreement for the development of the Lagos Metro Rail Transit Red Line project.

Other agreements announced and signed during the visit include a $1 billion for the establishment of a Hi-tech industrial park in Ogun-Guangdong Free Trade Zone in Igbesa, Ogun State.

Furthermore, the Ogun-Guangdong Free Trade Zone and CNG (Nigeria) Investment Limited also signed an agreement valued at $200 million for the construction of two 500MT/day float gas facilities.

An agreement valued at $363 million 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 $500 million project for the provision of television broadcast equipment and a $25 million 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.

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buhari, china, nigeria

6 Comments

  • Buharis $6b trip to China is just for development of the North only, sokoto road the Amechi where do your brothers in the south South come in here to be a proud APC, even when your lagos to calabar rail project was not allowed in the budget. Ride on Buhari with your northern agenda.

  • Buharis $6b trip to China is just for development of the North only, so Amechi where do your brothers in the south South come in here to be a proud APC members, even when your lagos to calabar rail project was not allowed in the budget. Ride on Buhari with your northern agenda.

  • Those it means the south -south and South – east are not part of this china trip by President Buharri because no agreement reach from this two geo political zones? Baba right on we the south south and South East are watching,even the railway that is to be removed from the budget we waiting to see the final result.

  • Does it means the south -south and South – east are not part of this china trip by President Buharri because no agreement reach from this two geo political zones? Baba right on we the south south and South East are watching,even the railway that is to be removed from the budget we waiting to see the final result.

  • I thank God so much for this wonderful and dedicated leader we have been looking for. God bless PMB, God bless Nigeria.

  • Buhari is an ethnic jingoist and he makes no bones about it. I’m sure he mutters to himself sometimes that anybody who does not like his leadership style should go and die — including Amaechi & other zombies from the south he used as a springboard to attain this lofty height.
    The truth is that the South does not feature in his agenda for a better Nigeria. I am so happy we voted overwhelmingly for change and we are witnessing that change (pun intended).

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