China investing $40 billion in Nigerian economy

Geoffrey Onyeama

China is investing additional $40 billion in Nigerian economy, its Foreign Affairs Minister, Mr Wang Yi, said on Wednesday at a bilateral meeting with his Nigerian counterpart, Mr Geoffrey Onyeama, in Abuja.

The Minister said China has already invested up to the tune of $45 billion in the Nigerian economy.

“Nigeria and China are strategic partners; our relations have been developing well. 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 market of our two countries, our cooperation still have large potential to be deepened,” he said.

The minister said in order to achieve further development and prosperity of the two countries, the nation need to strengthen its political, mutual trust and deep complementary between developments.

According to him, there was need to further expand practical cooperation and deepen strategic partnership between the two countries, adding that his visit would be a successful one and play a dual role in further strengthening the strategic partnership between China and Nigeria.

However, Yi said the purpose of his visit to Nigeria was to implement the important agreements and cooperation reached between the Chinese and Nigerian presidents.

He said the visit was also to help work closely with Nigeria to ensure that the outcome of the Forum for China Africa Cooperation summit were well implemented here in Nigeria.

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