Hu´s trip to Nigeria

ABUJA, Nigeria (AP)

Chinese President Hu Jintao said yesterday his government will seek closer ties with Africa a resource-rich frontier of opportunity for the world’s fastest growing economy after signing oil and other agreements with Nigeria and granting the West African giant an aid package.
Hu, on the second and final day of his visit to Nigeria, addressed the country’s parliament on China’s relations with Africa.
“Africa has rich resources and market potentials, whereas China has available effective practices and practical know-how it has gained in the course of modernisation,” Hu said.
China is seeking “a strategic partnership” with the continent that would improve living standards for Africa, he said. China’s interest and growing profile has worried Western rivals among them countries who may feel their colonial ties should give them an advantage for Africa’s resources and markets. And some Africans have complained about being flooded with cheap Chinese goods.
“China’s development will not pose a threat to anyone. On the contrary, it will bring more development opportunities to the world,” Hu told Nigeria’s parliament.
The world’s most populous country, with 1.3 billion people, has also set new development targets to increase its gross domestic product and lower energy consumption, the Chinese leader said. “By the year 2020 , GDP would quadruple that of 2000 to reach $4 trillion, averaging $3,000 per head,” Hu said.
China’s economy is growing so fast, its leaders have taken steps to avoid inflation or ballooning bad loans. Growth hit 10.2 per cent in the first quarter, and China is hungry for the energy, timber, minerals and other raw materials Africa can provide.
During the first day of the visit, Hu and his Nigerian counterpart Olusegun Obasanjo presided over the signing of a string of agreements covering cooperation in energy, telecommunications, infrastructure development and health.
One agreement requires Nigeria’s Petroleum Ministry to give China’s state oil firm preferential access to oil blocks in return for a Chinese undertaking to take over a loss-making refinery in the northern city of Kaduna.
Under other deals, Chinese firms will build a hydroelectric power station in the northeastern Mambilla plateau and a high-speed rail system linking the Nigerian capital Abuja with the economic capital, Lagos.
Two Chinese telecommunication firms, Huawei Technologies and ZTE, will execute large contracts for rural telephone service across Nigeria with the help of concessionary loans from the Chinese government worth more than $200 million (161 million euros).

Any country that is not doing business with CHina is out of business!!!

But at the same time, China will always get the bigger share of any agreement

China is operating a NO STRINGS ATTACHED BUSINESS, just give them oil, they'll sell you hi-tech armoured vehicles n fighter jets they used in 1980, which nigeria dont really need


hmmm win- win for them , cheap developement for us, i think we can bargain for better deals!

@LoverBwoy

China is operating a NO STRINGS ATTACHED BUSINESS, just give them oil, they'll sell you hi-tech armoured vehicles n fighter jets they used in 1980, which nigeria don't really need

The Nigerians that are in the Nigerian Team of Negotiators, dont they have PhDs?

If a Nigerian PhD will negotiate and agree for an extinct equipment and surrender Nigeria's oil to China? whose fault is it?

Come over to HongKong China and get a life,

who told u they have phd

Thousands have Ph.d in nigeria, yet they always get some weird loan agreement for the country



I am okay where i am thank you you can go to hongkong or china it'll suit u more

@LoverBwoy

Thousands have Ph.d in nigeria, yet they always get some weird loan agreement for the country

thats exactly what im saying, too much book, book, book, its now a problem,

anyway, whose fault is it, Nigeria? China.
China didnt pressure Nigeria to sign anything, at least no guns was put to the head of Nijas representatives, yet theyve signed off our oil.

China won't build Sh|t! as soon as a new president is elected everything the old one signed would be forgotten!

zebudaya, how can you say this?

it won´t be forgotten, if it will, Nigeria will remain stagnant forever, and i would prefer an autocracy over a democracy ´cos ´na democracy ´na no de bring project to end,ooo!!

Well when they finally build it, lets hope we dont have to call in the undertakers
fingers,legs and all crossed(scarry thot with Naija reputation of mismanagement)

Constantin:

zebudaya, how can you say this?

Im sure he can say that because it has happened before, not once, and might happen again

Nigerian development is kinda speeding up now. I am happy for all of these development. The days of anger is over

@larger_20

Nigerian development is kind of speeding up now. I am happy for all of these development. The days of anger is over

Pls gist me, where are the

all of these development

you're talking about?

Road construction, most of the fedral roads now are running kool in the developed area, including the recently signed contract to build railway b/w lagos and abuja.
Chineese industires are building their industries in nigeria and making nigeria their second home. Our fight for corruption through EFCC and our stable financial sector due to okonjo iweala.
Flight b/w US and nigeria will be re-estalished soon. Western kind of malls are opening in diffrent places in nigeria. Democracy is in nigeria to some extent. i.e OBJ cannot do his mind regarding third term if nigeria did not concor. So many things to name but few

China will bring povert with them. Doing business with China to me is settling for an economy that will not grow and stand on its own.

the west is not better than china, we have been dealing with them since and before independence still we remain stagnant so lets try east if it did not work out we try north then south as the last cardinal point to try, if all fail us we come for middle and settle.

How dear you say tht the west is not better than China. The only thing to compare is that China is a market dump for the west. And population advantage. Every thing made in China has no durability because they only settle for ting they can use now without minding tmorrow. CHEAP.