Chinese and Nigerian officials have held discussions about China increasing investment in the West African countries’ electricity and oil industries.


Chinese Foreign Minister, Yang Jiechi, on a six-nation tour of Africa and the Middle East, met his Nigerian counterpart, Ojo Maduekwe, in Abuja. Issues discussed included further investment in power transmission and generation and in oil exports, the Nigerian Foreign Ministry said in a statement. China is also helping to repair the rail system and develop communication satellites for Nigeria, the ministry said.


China needs to “import oil from other countries, including Nigeria ,” Yang said. China is increasing its investment in African energy and minerals to feed its growing economy. In 2008, the country invested $7.8 billion in the continent.


At a summit in November, China said it would offer $10 billion in preferential loans to Africa over the next three years to develop infrastructure and social programmes. It also plans to write off the debt of some of the poorest nations.


Nigeria is Africa’s biggest oil producer. Since 2006, China’s energy companies had announced plans to spend at least $16 billion on oil and gas fields on the continent.


Yang began his tour of the continent on January 6 in Kenya, where President Mwai Kibaki said that China made a commitment to help develop a second port at Lamu on the East African nation’s coast.


Construction of the facility is part of a $22 billion project announced by the Kenyan government in April 2008 that includes a rail line, a highway linking neighboring Ethiopia, Southern Sudan and Rwanda to Lamu, and three airports.

http://www.tribune.com.ng/12012010/tue/eog1.html