diplomat058:
The funding of the project through their Exim Bank is a form of development assistance to Nigeria, to be paid back by the latter over a specified period of time at a low or zero interest.
You see bro, these people are very wise. China offers loan to Nigeria on the condition that the project is executed by a Chinese firm/s. That means the bulk of the loan still goes to these Chinese for Contract execution. They provide the loan, get the money back through contract awarded, make like 40% profits, send the profited forex back to the banks in their country to strengthen their forex reserves, and in all, give Nigeria a legitimate reason (through provision of loan) to continue to stay in the country, monopolising many of our industrial sectors such as power and construction, and bringing in billions of dollars- worth Chinese goods into the country through one 'yeye' free trade agreement (FTA) that the Nigerian government will enter with them as an act of reciprocity and 'appreciation'

The Chinese Global Money Machine is a force of nature for sure, particularly since the Chinese government funds most if not all "investments" committed to Africa. From the rampant deforestation of the Congo's hardwood rain-forests, to Ghana's lethally polluting "Galamsey" gold-mining prospectors and rural gambling slot machine syndicates, to the wholesale acquisition of land by the square mile in Southwest Nigeria for the creation of sprawling mono-culture oil-palm plantations, the sheer pervasiveness of Chinese capital and resource exploitation, has assumed a gargantuan scale in recent years, for better, or for worse.

One of the notable attributes of Chinese business in Africa is that the real owners of Chinese concerns generally enlist local African representatives into managerial and public relations roles that comprise the "public face" of such corporate entities, so that the true extent of Chinese ownership, measured in billions of greenback dollars, remains shrouded in mystery by prudent policy intent.

Mindful of the reality that Third World nations can witness dramatic policy changes in the wake of election-day upsets, the Chinese tread with great care, and go to extreme lengths to keep their finances OUT of the spotlight in Africa, so as to minimize risk if, by way of example, federal or state land allocations issued to foreign-owned interests by outgoing government administrations, were to be a summarily overturned by nullifying edicts handed down when incoming administrations conduct the usual "spring cleaning".

Today, near the Lagos end of the Ibadan Expressway, sit several absolutely massive factory buildings that employ hundreds of Nigerian workers, yet notably, those mega-structures bear absolutely NO visible signboards to indicate ownership, product or purpose, for those major industries, all of which are very obviously Chinese-owned, and Chinese operated.

The second colonization of Africa, the economic one, this time around, has been under way for the past decade, and, simply put, there is NO stopping the runaway Chinese freight-train careening across the breadth of Africa, sowing millions of dollars, while reaping billions by all means fair and foul, as it rumbles along with gathering momentum.

eikenberry:
If our Chinese brothers are investing 85% in this project what will be their gain?

They OWN the poject 85% .That is their gain

Jakumo:


The Chinese Global Money Machine is a force of nature for sure, particularly since the Chinese government funds most if not all "investments" committed to Africa. From the rampant deforestation of the Congo's hardwood rain-forests, to Ghana's lethally polluting "Galamsey" gold-mining prospectors and rural gambling slot machine syndicates, to the wholesale acquisition of land by the square mile in Southwest Nigeria for the creation of sprawling mono-culture oil-palm plantations, the sheer pervasiveness of Chinese capital and resource exploitation, has assumed a gargantuan scale in recent years, for better, or for worse.

One of the notable attributes of Chinese business in Africa is that the real owners of Chinese concerns generally enlist local African proxies in the role as managers of such corporate entities, so that the true extent of Chinese ownership is shrouded in mystery by intent.

Mindful of the reality that Third World nations can witness dramatic policy changes in the wake of election-day upsets, the Chinese tread with great care, and go to extreme lengths to keep their finances OUT of the spotlight in Africa, so as to minimize risk if, by way of example, federal or state land allocations issued to foreign-owned interests by outgoing government administrations, were to be a summarily overturned by nullifying edicts handed down when incoming administrations conduct the usual "spring cleaning".

Today, near the Lagos end of the Ibadan Expressway, sit several absolutely massive factory buildings that employ hundreds of Nigerian workers, yet notably, those mega-structures bear absolutely NO visible signboards to indicate ownership, product or purpose, for those major industries, all of which are very obviously Chinese-owned, and Chinese operated.

The second colonization of Africa, the economic one, this time around, has been under way for the past decade, and, simply put, there is NO stopping the runaway Chinese freight-train careening across the breadth of Africa, sowing millions of dollars, while reaping billions by all means fair and foul, as it rumbles along with gathering momentum.

With all the points you have pin-pointed Sir, I suppose this piece is corroborative of my narrative of the Chinese clandestine economic exploitation and manipulation of Sub-Saharan Africa.

Anyways, thanks for giving more insights.

Six years!

diplomat058:
With all the points you have pin-pointed Sir, I suppose this piece is corroborative of my narrative of the Chinese clandestine economic exploitation and manipulation of Sub-Saharan Africa.

Anyways, thanks for giving more insights.

Definitely there is a common thread between your summation of China's growing role in Nigeria, and my abbreviated list of Chinese exploits in Africa. A quietly methodical and publicity-averse philosophy guides the Chinese juggernaut even as it re-shapes Africa by virtue of its sheer monetary might, all in the context of a long-term strategic plan for the "Dark Continent", and her myriad of treasured resources.

na today!!! this deal have been signed uncountably

aribisala0:
They OWN the poject 85% .That is their gain

Are you implying that the agreement is a Joint Venture, a sort of PPP?

I honestly doubt it is. If it is, there wouldn't have been the need for Chinese Government-owned Exim Bank to provide development facility to finance the project. I don't think it's PPA, it's just the Chinese government economic policy of providing development assistance (non-political loans unlike Western lenders) to developing countries by funding Contracts awarded to Chinese Companies only.

If you say the Chinese own 85% of this, are you also saying that such China Exim Bank-fully funded Nigerian projects as the Abuja light rail, Lagos-Calabar, and Lagos-Kano rail projects are owned by the Chinese?

diplomat058:
Are you implying that the agreement is a Joint Venture, a sort of PPP?

I honestly doubt it is. If it is, there wouldn't have been the need for Chinese Government-owned Exim Bank to provide development facility to finance the project. I don't think it's PPA, it's just the Chinese government economic policy of providing development assistance (non-political loans unlike Western lenders) to developing countries by funding Contracts awarded to Chinese Companies only.

If you say the Chinese own 85% of this, are you also saying that such China Exim Bank-fully funded Nigerian projects as the Abuja light rail, Lagos-Calabar, and Lagos-Kano rail projects are owned by the Chinese?

Guy do you pay me school fees every semester? What are all these ICAN questions? Go and research yourself

aribisala0:
Guy do you pay me school fees every semester? What are all these ICAN questions? Go and research yourself

I am sorry.

I so much adore you on Nairaland.
Thanks for your response, anyway.

diplomat058:
I am sorry.

I so much adore you on Nairaland.
Thanks for your response, anyway.

Nothing to be sorry about but your questions plenty sha .
Thanks for the admiration but I do not know everything and that initial response was just an assumption. So why don't you research it and educate us all I will be happy to learn from you.Respect!

robotix:
Bloody lies again? What happened to CHINESE YUAN DEAL?

What were u expecting in the chinese Yuan deal?? let's see if you have a knowledge of the question you're asking?

ubox:

How many equipments/ materials needed for the projects are produced in Nigeria?
Without that, the project cost will always be higher due to importation dues.

Other Africa Countries too do not produce the materials, they also import and got the same project done cheaper.
Hope you are not trying to defend them sir.

thunder74:

Other Africa Countries too do not produce the materials, they also import and got the same project done cheaper.
Hope you are not trying to defend them sir.

Not at all

LilSmith55:


We are selling them Nigeria, that's their gain

sad one!

Jakumo:


The Chinese Global Money Machine is a force of nature for sure, particularly since the Chinese government funds most if not all "investments" committed to Africa. From the rampant deforestation of the Congo's hardwood rain-forests, to Ghana's lethally polluting "Galamsey" gold-mining prospectors and rural gambling slot machine syndicates, to the wholesale acquisition of land by the square mile in Southwest Nigeria for the creation of sprawling mono-culture oil-palm plantations, the sheer pervasiveness of Chinese capital and resource exploitation, has assumed a gargantuan scale in recent years, for better, or for worse.

One of the notable attributes of Chinese business in Africa is that the real owners of Chinese concerns generally enlist local African representatives into managerial and public relations roles that comprise the "public face" of such corporate entities, so that the true extent of Chinese ownership, measured in billions of greenback dollars, remains shrouded in mystery by prudent policy intent.

Mindful of the reality that Third World nations can witness dramatic policy changes in the wake of election-day upsets, the Chinese tread with great care, and go to extreme lengths to keep their finances OUT of the spotlight in Africa, so as to minimize risk if, by way of example, federal or state land allocations issued to foreign-owned interests by outgoing government administrations, were to be a summarily overturned by nullifying edicts handed down when incoming administrations conduct the usual "spring cleaning".

Today, near the Lagos end of the Ibadan Expressway, sit several absolutely massive factory buildings that employ hundreds of Nigerian workers, yet notably, those mega-structures bear absolutely NO visible signboards to indicate ownership, product or purpose, for those major industries, all of which are very obviously Chinese-owned, and Chinese operated.

The second colonization of Africa, the economic one, this time around, has been under way for the past decade, and, simply put, there is NO stopping the runaway Chinese freight-train careening across the breadth of Africa, sowing millions of dollars, while reaping billions by all means fair and foul, as it rumbles along with gathering momentum.

Seem you really understand the concept of emerging markets dynamism , without much gain say the Chinese are silently taking over the Nigerian economic terrain with investment in various parts of the Nigerian economy, I hope we as a nation realise the potential threat this may pose attention the medium or long term by reversing this trend with the locals investing heavily in similar activities as the Chinese

Give Dangote this mambila project, and it will come to light in 3 years

MrRitchie:


What were u expecting in the chinese Yuan deal?? let's see if you have a knowledge of the question you're asking?

go to hell

robotix:
go to hell

u shud av given an answer nah, mu mu dey find something to complain about, meanwhile he doesn't know the meaning of what he's complaining about. Efu Lefu

$5.79 billion x 360 is equal to #2.08 trillions.
Heaven is watching

Only thing I have to say is will this give the country 24 hour power supply? If no or uncertain then it's a waste of time and money and they should just suspend it.