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Buhari’s China Visit Yields Billions In Investment For Nigeria – Presidency - Politics - Nairaland

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Buhari’s China Visit Yields Billions In Investment For Nigeria – Presidency by TheFreeOne: 6:38pm On Apr 15, 2016
President Muhammadu Buhari has expressed satisfaction with the outcome of his working visit to China, which has yielded additional investments in Nigeria exceeding six billion dollars.

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

The Senior Special Assistant to the President on Media and Publicity, Mr Garba Shehu disclosed the President’s views in a statement on Friday.

“In the power sector, North South Power Company Limited and Sinohydro Corporation Limited signed an agreement valued at 478,657,941.28 dollars 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 dollars for the construction and equipping of granite mining plant in Nigeria.

“A total of one billion dollars 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 dollars deal to develop an ultramodern 27-storey high rise complex and a 2.5 billion dollars agreement for the development of the Lagos Metro Rail Transit Red Line project,” the statement read.

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

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

“An agreement valued at 363 million dollars 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 dollars project for the provision of television broadcast equipment and a 25 million dollars facility for production of pre-paid smart meters between Mojec International Limited and Microstar Company Limited,” the statement read.

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.

http://www.channelstv.com/2016/04/15/buharis-china-visit-yields-billions-in-investment-for-nigeria-presidency/

28 Likes 3 Shares

Re: Buhari’s China Visit Yields Billions In Investment For Nigeria – Presidency by Austincrow(m): 6:58pm On Apr 15, 2016
Good for us

16 Likes 1 Share

Re: Buhari’s China Visit Yields Billions In Investment For Nigeria – Presidency by DAVEZONIGLTD: 7:01pm On Apr 15, 2016
Thank God

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Re: Buhari’s China Visit Yields Billions In Investment For Nigeria – Presidency by Joel3(m): 7:07pm On Apr 15, 2016
let wait and see the aftermath of this trip. no excuse for failure. no one is sacred cow.

10 Likes 2 Shares

Re: Buhari’s China Visit Yields Billions In Investment For Nigeria – Presidency by theshadyexpress(m): 7:22pm On Apr 15, 2016
same way lie mohammed told us Buhari maiden previdential visit to the US yielded #5trn investment commitments and till today we are still using microscope to view the investors.

This government will say anything to justify its waste of scarce resources, only time will tell if nigerians will choose to live with a lie or begin a journey in search of truth

For me i'd rather take this report with a pinch of salt

136 Likes 12 Shares

Re: Buhari’s China Visit Yields Billions In Investment For Nigeria – Presidency by yerilistik: 7:27pm On Apr 15, 2016
Good one Mr President, may God continue to give you wisdom and long healthy life to continue your good work to salvage this country.
Let all enemies of this country be put to shame !

Fayose, you see your life ? What a shame of a governor ! grin

72 Likes 6 Shares

Re: Buhari’s China Visit Yields Billions In Investment For Nigeria – Presidency by TheFreeOne: 7:33pm On Apr 15, 2016
Good job Buhari.

We hope these projects see the light of day and FG will ensure they are followed up and monitored till final completion.

This china trip ain't bad. It ain't bad at all.

42 Likes 5 Shares

Re: Buhari’s China Visit Yields Billions In Investment For Nigeria – Presidency by Joel3(m): 7:36pm On Apr 15, 2016
Advantage & Disadvantage Of Nigeria And China Deal


if you ask me, the only advantage is temporary and divert the existing problem.



Advantage of Nigeria & China Deal

1, to reduce temporary pressure on the dollar

2, cheaper import of Chinese goods & service

3. using Nigeria as a contact point or business hub to other west Africa country

4. short team infrastructure to ease suffering

5. the naira will now be accepted by some Chinese

6. opening of Chinese and Nigeria trade.

Disadvantage of Nigeria & China Deal

1, it discourage local product since its cheaper to import

2. it will increase importation as never before. and most especially this critical time oil is worthless

3. it contradict the slogan of Diversifying Nigeria economy

4. we have little to export to China compared with our import from China

5. the profit margin scale is not balance Nigeria is on the losing end.

6. the long team is disastrous to our economy

7. Chinese yuan is not worthy to bank on inflation will kill our reserve.

8. Chinese will start taking over our jobs and owing a store and storehouses. like it happens in Zimbabwe

9. on the long run there will be scarcity of the yuan just like dollar today.

you are free to add yours.

66 Likes 6 Shares

Re: Buhari’s China Visit Yields Billions In Investment For Nigeria – Presidency by TRUTHTOPOWER: 7:43pm On Apr 15, 2016
I'm acknowledging you for who you are...O God. thank God For PMB. unlike a president who promised some people a common bridge and delivered a gulf of poverty!

now southwest will get the needed infrastructure from nearly 70% of the China deal. I also thank God this money is not for "arms" or yams

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Re: Buhari’s China Visit Yields Billions In Investment For Nigeria – Presidency by Nobody: 8:09pm On Apr 15, 2016
I took out time to read the statement there and a cold chill went through my spine.


Sometimes if you are fighting to believe in the Nigeria project our leaders will remind you that some regions don't deserve their attention.



Call me a tribalist now and i will embrace it with glee but we can see how the billions of contract were ceded to the North and SW.


Is the SS/SE part of Nigeria or is their resources solely for plunder and use to enrich other regions?


The revenue from oil will be used to pay this 2billion dollar loan but the people from that region are not alowed to share in the spoils of the loan.


Please don't tell me about who voted who because in democracy there is freedom to vote for anyone you want but the winner needs to carry everyone along.


My heart bleeds because this government ois sowing seed of division instead of integration.


If a restructuring is not done in this shameful system we call Federalism then an abortion might happen before the delivery day.


Our date with history is nigh.


Cc Truckpusher depreye

84 Likes 11 Shares

Re: Buhari’s China Visit Yields Billions In Investment For Nigeria – Presidency by Sealeddeal(m): 8:13pm On Apr 15, 2016
Only North and SW.

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Re: Buhari’s China Visit Yields Billions In Investment For Nigeria – Presidency by Nobody: 8:21pm On Apr 15, 2016
But where is lalasticlala and Mynd44 sef undecided

Dear Lord, I thank you for the gift of knowledge and wisdom. I bless your name. You are worthy of praise. You have reset our destiny as a nation. With you, I offer great Thanksgiving for your mercies and pity on us.

Lord, some of us have suffered but with your divine intervention, thou has set us free from poverty and underdevelopment. Guide your son, President Muhammadu Buhari to achieve this breakthrough, guide our leaders right, help the youth the truth to see.

Father, continue to bless Nigeria, restore our strength and grace our tomorrow. This is my prayer in Jesus name. Amen

31 Likes 1 Share

Re: Buhari’s China Visit Yields Billions In Investment For Nigeria – Presidency by Nobody: 8:36pm On Apr 15, 2016
Seriously? Is the Presidency already singing it's own praise even before returning from the trip. This is typical propaganda. Allow us feel the impact of the deals and do the praise singing ourselves.

24 Likes

Re: Buhari’s China Visit Yields Billions In Investment For Nigeria – Presidency by allanphash7(m): 8:37pm On Apr 15, 2016
one guy in Ekiti will never like this news







He sucks











he is truly a peter cos the same peter denied jesus

11 Likes

Re: Buhari’s China Visit Yields Billions In Investment For Nigeria – Presidency by Johnheir2(m): 8:37pm On Apr 15, 2016
Ok
Re: Buhari’s China Visit Yields Billions In Investment For Nigeria – Presidency by Nobody: 8:37pm On Apr 15, 2016
I just deh laugh una, but continue. na so e dey always shak una for body but on the long run reality go unfold. fayose done already warn una, on this note I rest my case.

8 Likes

Re: Buhari’s China Visit Yields Billions In Investment For Nigeria – Presidency by ibkgab001: 8:38pm On Apr 15, 2016
Story
Re: Buhari’s China Visit Yields Billions In Investment For Nigeria – Presidency by Nobody: 8:38pm On Apr 15, 2016
Joel3:
Advantage & Disadvantage Of Nigeria And China Deal


if you ask me, the only advantage is temporary and divert the existing problem.



Advantage of Nigeria & China Deal

1, to reduce temporary pressure on the dollar

2, cheaper import of Chinese goods & service

3. using Nigeria as a contact point or business hub to other west Africa country

4. short team infrastructure to ease suffering

5. the naira we now be excepted by some Chinese

6. opening of Chinese and Nigeria trade.

Disadvantage of Nigeria & Chinese Deal

1, it discourage local product since its cheaper to import

2. it will increase importation as never before. and most especially this critical time oil is worthless

3. its contradict the slogan of Diversifying Nigeria economy

4. we have little to export to China compared with our import from chine

5. the profit margin scale is not balance Nigeria is on the losing end.

6. the long team is disastrous to our economy

7. Chinese yuan is not worthy to bank on inflation will kill our reserve.

8. Chinese will start taking over our jobs and owing a store and storehouses. like it happens in Zimbabwe

9. on the long run there will be scarcity of the yuan just like dollar today.

you are free to add yours.

most of the disadvantages you quoted happens already.

7 Likes

Re: Buhari’s China Visit Yields Billions In Investment For Nigeria – Presidency by tonylaw07(m): 8:39pm On Apr 15, 2016
PDP what say you.
Re: Buhari’s China Visit Yields Billions In Investment For Nigeria – Presidency by sukkot: 8:39pm On Apr 15, 2016
ipad youf be like ' buhali is a loser, we support awa dilecta nnamdi kanu and fayose '

13 Likes

Re: Buhari’s China Visit Yields Billions In Investment For Nigeria – Presidency by Ptoocool(m): 8:39pm On Apr 15, 2016
Nigeria is moving! Buhari is working!



Hypocrisy is when you condemn Buhari and his administration but deep within you have the instinct he'll fulfill his campaign promises cos of the steps he's taking - Ptoocool (2016)

7 Likes

Re: Buhari’s China Visit Yields Billions In Investment For Nigeria – Presidency by AntiWailer: 8:39pm On Apr 15, 2016
so they ignored Fayose and his rants ?

what can be more painful than completely ignoring some one ranting like a mad man.


he will soon send a press release o why Buhari is not replying him. grin grin

18 Likes 2 Shares

Re: Buhari’s China Visit Yields Billions In Investment For Nigeria – Presidency by asids55: 8:39pm On Apr 15, 2016
Sealeddeal:
Only North and SW.

no worries. .e be like say the road go pass through ss and se shey dem no try like dat?hehehe
Re: Buhari’s China Visit Yields Billions In Investment For Nigeria – Presidency by omolola15(m): 8:40pm On Apr 15, 2016
Ok
Re: Buhari’s China Visit Yields Billions In Investment For Nigeria – Presidency by Olukologia(m): 8:40pm On Apr 15, 2016
Story for the gods. What would you have said? When U've spent almost all the money on presidential jets maintainance..

13 Likes 2 Shares

Re: Buhari’s China Visit Yields Billions In Investment For Nigeria – Presidency by LordAdam: 8:40pm On Apr 15, 2016
Where are the N5 trillion worth of investments they were able to secure from US?

Now, you want us to jubilate over N1.2 trillion worth of investments from China even before the ink is dry on the deal.

I thought they said, they went there to secure $6b worth of loan and that these loans would be used to finance projects in the 2016 project.

Rather they went there to negotiate new projects (most of which are not covered in the budget), without getting the loan to partly cover the $11b deficit. Anyone should correct me if I am wrong.

I thought they would get at least $2b loan to cover the deficit, then get these deals as extras.

The most annoying part of these deals is the fact that Chinese companies will do the construction and they will bring in their own Chinese workers as well as parts that should have been sourced in Nigeria. Where is the immediate benefit of more jobs, reduced unemployment rate, and boosting of our economy with the money?

Money would move from the Chinese bank financing the project to the Chinese company performing the project without reaching a Nigerian bank. Then the Chinese company will hire the staff and buy the materials in China, then bring them to Nigeria. Whatever will end in the Nigerian economy will be breadcrumbs.

In the end Nigerians would pay back with extensive billing or with crude oil sales or personal income taxes with interest.

I don't know what to call this government?

Why did the idiot leave this country to negotiate loan and deals without his Finance minster? Why?

Then, should we talk about the fact that all the projects are in the North and SW?

Let Buhari continue.

I'm just waiting for the f00l that would say SS/SE should be nationalistic when the West comes for Buhari's head for going to China and ignoring the IMF advice. If the US/UK and the West wants to destabilize Nigeria, we would whistle away and implore them to do their worst because it is very clear that we are not gaining anything from staying in this commonwealth.

-Lord

17 Likes 3 Shares

Re: Buhari’s China Visit Yields Billions In Investment For Nigeria – Presidency by shamsuRana(m): 8:40pm On Apr 15, 2016
cheesy

President Buhari's meeting with Chinese officials has brought so many benefits to Nigeria, and some of the agreements signed include:
1. 长,水利部苏莱曼阿达姆部长和国防部长丹阿里,长,水利部苏莱曼阿达姆部长和国防部长丹阿里, 长,水利部苏莱曼阿达姆部长和国防部长丹阿里
2.,长,水利部苏莱曼阿达姆部长和国防部长丹阿里,
他来到中国人民共和国长
3.,水利部苏莱曼阿达姆部长和国防部长丹阿里,
他来到中国人民共和国进行国事访问行国事访问长,水长长,水利部苏莱曼阿达姆部长和国防部长丹阿里,
他来到中国人民共和国进行国事访问水利部苏莱曼阿达姆部长和国防部长丹阿里,
他来到中国
4.人民共和国进行国事访问部苏莱曼阿达姆部长和国防部长丹阿里,
他来到中国人民共和国进行国事访问长
And additionally,水利部苏莱曼阿达姆部长和国防部长丹阿里,
他Lagos来到中国人民Calabar共和国进行国事访问他
Its a positive development
The government hopes to implement all these to the benefit of the populace.

15 Likes

Re: Buhari’s China Visit Yields Billions In Investment For Nigeria – Presidency by amtaken(f): 8:41pm On Apr 15, 2016
Niger

Lagos

Ogun

Kogi


What about Eastern states?


Mxm.

8 Likes

Re: Buhari’s China Visit Yields Billions In Investment For Nigeria – Presidency by igboboy3(m): 8:42pm On Apr 15, 2016
there is already a power plant in shiroro. why are they building another one there?

3 Likes 1 Share

Re: Buhari’s China Visit Yields Billions In Investment For Nigeria – Presidency by tola9jaa: 8:42pm On Apr 15, 2016
if you voted for buhari and by this time you have give up on him you dont see beyond your nose you and the wailers are from the same family


i have confidence that the money he borrowed he will use it judiciously


it would not be like Dr. jona 2.1billion borrowing scam

God bless mr president

God bless Nigerian

8 Likes 3 Shares

Re: Buhari’s China Visit Yields Billions In Investment For Nigeria – Presidency by popcykaylah(m): 8:43pm On Apr 15, 2016
Seriously shame on fayose ..with all the rubbish he wrote .Chinese government still ignored him ..adult acting like a toddler..oponu

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