Wang Yi, Chinese Foreign Affairs Minister, has disclosed plans by the Chinese government to invest up to $40b in Nigeria as part of efforts aimed at deepening relations between the two countries.
The amount, which was announced by the minister during a joint briefing with his Nigerian counterpart yesterday in Abuja was in addition to other contributions China had made to Nigeria to support her developmental activities. He said his country had invested about $45b in various projects in Nigeria and is at the verge of releasing another $40b.
“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 are in the pipeline,” Yi said.
The Chinese foreign minister had met earlier in the day with President Muhammadu Buhari at the Presidential Villa, where the president pledged that Nigeria would honour all agreements signed with the People’s Republic of China.
(Thisday)
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