China’s Foreign Affairs Minister, Mr Wang Yi, has said that China will be investing an additional 40 billion dollars in the Nigerian economy on Wednesday during his visit to the West African nation.
According to the FM China has invested $45 billion in the Nigerian economy so far.
“China has already invested or financed a total number of $22billion projects here in Nigeria, another $23billion projects are on-going. In addition, we are also following up another over $40billion of investments which is in the pipeline. Compare with the size, population and markets of our two countries, our cooperation still have large potential to be deepened,”” Said the Chinese Foreign Minister during a bilateral meeting with his Nigerian counterpart, Mr Geoffrey Onyeama, in Abuja.
With Chinese Foreign Minister Wang Yi, signed entente sustaining Nigeria one China policy, @MFA_Nigeria, today. https://t.co/jhmmn8KjNe pic.twitter.com/OHcr36jFjY
— Geoffrey Onyeama (@GeoffreyOnyeama) January 11, 2017
Wang Yi explained his visit to Nigeria was for the purpose of implementing the important agreements and cooperation reached between the Chinese and Nigerian presidents. Agreed during Nigerian President Muhammadu Buhari visit to China in April 2016 where he held discussions with Chinese Government on various ways of cooperation. In addition to the agreements at the Forum for China Africa Cooperation summit.
Nigerian President Muhammadu Buhari values Nigeria’s relations with China and is hoping more Chinese enterprises would join in Nigeria’s economic development. Buhari assured Minister Wang Yi that Nigeria will keep its side of bargain in all the agreements we have signed with China
Projects due for implementation as part of our agreements with China include our priority standard-gauge rail, & Agric Demonstration Centres pic.twitter.com/KdIfijgQcX
— Muhammadu Buhari (@MBuhari) January 11, 2017
Buhari further said that China would work together with the Nigerian side to enhance cooperation on agriculture, railway, road, petrochemical industry and human resources, so as to contribute to the African country’s economic diversification and sustained development.
Chinese FM Wang started his five-nation Africa visit last Friday, which took him to Madagascar, Zambia, Tanzania, the Republic of Congo, and Nigeria
