China is investing additional $40 billion in Nigerian economy, its Foreign Affairs Minister, Mr Wang Yi, said on Wednesday at a bilateral meeting with his Nigerian counterpart, Mr Geoffrey Onyeama, in Abuja.

The Minister said China had already invested up to the tune of $45 billion in the Nigerian economy.
“ Nigeria and China are strategic partners; our relations have been developing well China has already invested or financed a total number of $22billion projects here in Nigeria, another $23billion projects are on-going.

“In addition, we are also following up another over $40billion of investments which is in the pipeline.
“Compare with the size, population and market of our two countries, our cooperation still have large potential to be deepened,” he said.

According to him, in order to achieve further development and prosperity of the two countries, we need to strengthen our political mutual trust, deep complementary between our developments.

He stressed on the need to further expand practical cooperation and deepen strategic partnership between the two countries.

He expressed confidence that his visit would be a successful one and play a dual role in further strengthening the strategic partnership between China and Nigeria.

Yi said the purpose of his visit to Nigeria was to implement the important agreements and cooperation reached between the Chinese and Nigerian presidents.

He said the visit was also to help work closely with Nigeria to ensure that the outcome of the Forum for China Africa Cooperation summit are well implemented here in Nigeria.

Onyeama had earlier commended the existing relationship between Nigeria and China noting that the relationship had been strong for many years..

“I think the level of cooperation with China is extremely high and Chinese government is investing amount of money in Nigeria and probably is going up to $60 to $80 billion and we are extremely happy for that.

He said that at the last meeting in South Africa and the government of China made available the total of $60 billon for Africa and a number of countries including Nigeria.

The Minister said that he would want to key in and see how much of that could be used to assist in the various projects that we have in this country.
He explained that President Muhammadu Buhari was in China in 2016 and had a discussion with Chinese Government on various cooperation..

“We know that in the area of infrastructure which is one of the priority areas and diversification the Programme of this government from oil .

“Chinese government has been showing a lot of cooperation with us in this area especially in the area of transportation,” he said

The News Agency of Nigeria (NAN) reports that the Minister of Transport, Mr Rotimi Amechi was part of the meeting.(NAN)

http://www.kikiotolu.com/2017/01/china-to-bring-additional-40-billion.html

Lalasticlala Mynd44 seun Dominique

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Good news if this is true and not another propaganda that the current government of Buhari' is known for.

I knew that was why they jilted Taiwan and asked them to close their embassy in Nigeria. China probably gave that as a condition for assisting Nigeria. This life sha.

It's always about self-interest. No love men. Not even in international diplomacy.

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China is slowly buying the world. They don't invest where they won't get triple gain. Hope our government equally utilizes this opportunity to make ends meet.

Be careful PMB

D

Is this physical or invisible investments cos we see nada yet they are calling billions

Naija i hail ooo

diz moni plenty pass d moni dasuki iz owing uz. i pray diz 1 end recession.....

God bless His President!

If it is not a propaganda, then good one..

better investment.

With the foreign firms disobeying labour laws, staff quota regulations and exempting taxes abi. Anyway, it's a good development but we need to keep our eyes peeled and stay vigilant to make sure these people are not ripping us off. They're investing in our country to make money, so we're not beggars. It's only fair they very well add to our IGR beyond the employment opportunities they create.

The previous money invested by China, how did it boost our economy? This new investment how will the poor masses benefit on it? Most politician are just their enriching themselves. Mtchew.

Another scam
the first one we are yet to feel the effect of it
ndi wayo

hyfr:
China is slowly buying the world. They don't invest where they won't get triple gain. Hope our government equally utilizes this opportunity to make ends meet.

Who invest where he won't make profit?

Give us the money in yuan

Must be spiritual or chinko(fake) money.

This is the real cost of severing ties with Taiwan lol

Additional?? Please who has seen or felt the previous 1?

Where are those criticizing the president for cutting ties with Taiwan? Obviously they hate good news about Nigeria, so shall good things be far from them as well.

Another story

Additional?

China has always seen Africa as their new colonial area so buhari shouldn't think he brought in that investment

People asking were is the 45 billion dollars investment just make me laugh... Ignorance is bad

So all the Chinese owned companies in Nigeria are not seen by u right? Their new investment in the oil sector is not seen too?

All these billion dollar investments wey person no de feel the impact... Are they mere paper investments ?