The People’s Republic of China has said it will invest $60bn in Nigeria.

Chargé d’Affaires of the Chinese Embassy in Nigeria, Mr. Qin Jian, who said this in a statement commemorating the 45th anniversary of its diplomatic activities in Nigeria, described economic cooperation between both countries as fruitful.

Qin said China was willing to integrate its development with independent and sustainable development of Nigeria and other African countries, so as achieve common development.

He noted that at the “successful and historic” second edition of the Forum on China-Africa Cooperation Summit held in Johannesburg, South Africa, Chinese President Xi Jinping proposed five major pillars for China-Africa relations.

According to the Chinese envoy, China and Africa should seek equality and mutual trust in politics, cooperation in economy, mutual learning in civilisation, mutual assistance in security and unity and coordination in international affairs.

Qin said, “(China’s) 10 key cooperation plans with Africa in the fields of industrialisation, agriculture modernisation, infrastructure, etc. will serve as an all-around blueprint for China’s cooperation with Africa in a period to come and symbolise that China-Africa relations will take a big stride and enter a new era.

“To fulfil the 10 plans, China has pledged 60 billion US dollars in development funding to Africa. When carrying out cooperation with Africa, China sticks to the principle of ‘Four noes and three priorities.’

“These include attaching no political conditions, interfering in no African country’s internal affairs, raising no demanding requirements and making no empty promises.”

Among the listed priorities of the Asian nation were Africa’s demands, improvement of African people’s livelihood and enhancement of Africa’s capacity for independent development.

Source: PUNCH.

The investment is not only for Nigeria, stills it's a welcome development

It is welcome if it will reduce unemployment and bring development in Africa.... Not another means of tapping resources.

I first heard this news in 2015. Must we hear the same news all through 2016? Start if you want to start and stop announcing.

But I thought IPOB youths says Buhari policies are scaring away investors. Hypocrates

we are already in china just waiting for the terms

What does China really want in return?

The Chinese also might have off-the-paper plans, considering what they did with Zimbabwe, after offsetting their debt of $60m, then Chinese Yuan to become Zimbabwean legal tender.



Still, I'll rather have Chinese' backing than the occult gripped entity call amelikans


Good one Xi Jinping, I know Nigeria holds more than 30% in that investment, if na true

We have been hearing/reading this kinda news since time immemorial but we're yet to see their results hitherto.

mascot87:
But I thought IPOB youths says Buhari policies are scaring away investors. Hypocrates

Don't mind those fools.

Beggars always ask while giver never lack. no be me talk am o. When will Africa stop seeking aid from all this white country. what is the essence of our independence while we still depend on them for help. buh na dis same chinko we dey take play for naija sey dia product no dey last....make I go dey learn chinish b4 F.G declare it as our third official language. chi wai ye fu

This chinese are very wise they really can see the future invest $60bn today and make $1trn tomorrow


why will their economy not keep on growing


meanwhile somewhere in Africa they still import match box and toothpicks when bush full everywhere SMH for this country

happy super Sunday nairaland

How much go be Nigeria own from the booties?

Chai... Country grow big sotey, dey carry 60 billion dollars go invest for another economy ... Anyways, more profit will be sent back home to improve dia economy ... Win win situation... And naija go dey talk of 2.1 billion dollars as if naim make everybody poor...

mascot87:
But I thought IPOB youths says Buhari policies are scaring away investors. Hypocrates

Ok. What about IPOB elders and children why only the youth.
Continue to show your stupidity.
When your eye finally opens i hope you will remember who fought for your right. Coward

@topic
It is a welcome development.
We want more of this. This is what we are wailing for.

the western powers go dey vex gan as china don dey chance dem, they used our head and resources. now another set of users don come . Blackman who do like dis na

Abegi

Is that not the norm?

Any anti Buhari thread must hit FP three times

SmartMugu:
I first heard this news in 2015. Must we hear the same news all through 2016? Start if you want to start and stop announcing.

I hate capitalism because it is exploitative but communism which China and Russia represent is not ideal too.
What they are doing is to gain control of the economies of these African countries to the extent they can then foist communist system of government on them.

if you guys are serious better be fast about this.before starvation finish naija people..

sexyexcalibur:
Chai... Country grow big sotey, dey carry 60 billion dollars go invest for another economy ... Anyways, more profit will be sent back home to improve dia economy ... Win win situation... And naija go dey talk of 2.1 billion dollars as if naim make everybody poor...

they are doing it for future purpose because of the earthquake destroying their land.

Y must foreigners invest in our economy,y are they coming...all i c is an untapped market

atleast $20b should be invest in nigeria, we need a modern agriculture, government farm should be build, modern machinery must be purchased, we need mordern technology to farm and not crude farming implement, am sure if modern machineries will be used many unemployed graduate will be willing to farm, build a govt. farm, employ graduate as tractors, buldozers drivers, herbicides sprayers,accontant, seurity guards, export officials etc even bare hand farmers and pay them 80k to 100k monthly and see how willing they will be farmers. we should feed nigeria fast , the rest can be processed and exported .
if pmb can build atleast three voluminous federal farm in each state of federation and each farm can employ 10, 000 workers yearly, with effect check and balance, extensive corruption monitoring and effective monitoring agency am very sure by the end of 2019 or 2023 from nigeria alone we can feed africa, increase our GDP, reduce import, strenghtHen our naira, get more than EIGHT MILLION EMPLOYED NIGERIANS.
the profit we realized an be used to set up agroallied, agrobased, textile, fabrics, food processing industry and much more.
THIS SETOR ALSO CAN EMPLOY MANY NIGERIANS, if FG will modernise agriculture alone more than fhalf of nigerian problem will be solved and we will be a great nation again.
I HOPE IF ANY ONE CAN LET FG SE THIS SUGGESTION

'To'

E-wailers! Bubu don score again ooo.............

Question is... what do China want in return? chai... oyinbo still see black as *****... im sure they (china) gon harvest most of what we neglect from our resources

Nigerians are thieves. China should back out

litetias:
I hate capitalism because it is exploitative but communism which China and Russia represent is not ideal too.
What they are doing is to gain control of the rconomies of these African countries to the extent that this they can then foist communist system of government on them.

what is wrong with communist ?.the best countries in the world operate with it,Russia,china