Nigeria Signs Mou To Tap Into BRI As China Investment Reach US$ 27 Billion

Infrastructure

 

The 2018 FOCAC for Nigeria to enhance it bilateral relationship with China, especially given the master plan of China to integrate global trade. According to Chinese Consul General in Nigeria. Ambassador Chao Xiaoliang, expressed that both countries tend to broaden relation in the area of finance, trade, infrastructure and people-to-people ties. Also he hinted that both countries reached consensus to bind themselves to the BRI. He further exerted that the investment of China in building and developing infrastructural facilities in Nigeria has totalled US$ 27 billion as at 2017. This as Nigeria signed additional US$ 1 billion with China for additional rolling stock for newly constructed rail line.

This is as Nigeria’s president, Muhammad Buhari, expressed partnership with China through the FOCAC has resulted in the execution of infrastructural facilities valued over US$ 5billion since the commencement of his administration three years ago. Such projects include: 180 kilometre rail line that connect Abuja and Kaduna, which is the first urban rail way system in West Africa commissioned in July 2018, with a total cost of US$500 million; on-going Lagos to Kano rail line; upgrading of airport terminals; Zungeru hydroelectric power project; fibre cable for internet infrastructure and water supply projects.

Abuja railway. Source: AFP

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