Amidst criticisms of his frequent overseas trip, President Muhammadu Buhari on Friday expressed satisfaction that his just-concluded one week official trip to China had yielded over $6bn additional investments for Nigeria.

The Senior Special Assistant to the President on Media and Publicity, Garba Shehu, disclosed this in a statement made available to journalists.



Shehu said the President believed that the 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.

He said, “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 Shiroro, Niger State.

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

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

According to the presidential spokesman, other agreements announced and signed during the visit included the establishment of a Hi-tech industrial park in Ogun-Guangdong Free Trade Zone in Igbesa, Ogun State.

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

“An agreement valued at $363m 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 $500m project for the provision of television broadcast equipment and a $25m 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,” Shehu added.

http://www.nigerianeye.com/2016/04/my-china-trip-yielded-over-6-billion.html?m=1

good

*In my bootleg Adamu voice*

Kwaret, walahi fa, this Bubu is a kwaret somborii..

Sai Baba
Sai Buhari.

If actually this projects are agreed upon and carried out with all sincerity within the next 2-3 years. I think Nigerians will give a pass to the president and forget the last 12 months of stagnation.
I will like to plead with all our leaders to stop playing politics with the development of the nation, as the good of the goose is good of the gander

let wait and see the aftermath of this trip. no excuse for failure. no body is sacred cow.

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

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 !

Booked!

Anyone else notice, the so called "investments" is just for North and SW.

Oya whose going to tell me that Nnamdi Kanu was lying on his Radio?

Anyway it's cool. I doubt any of this "investments" will ever see the light of day judging from APC denial about everything they say

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