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

The 2018 FOCAC for Nigeria to enhance its bilateral relationship with China, especially given the master plan of China to integrate global trade. According to the Chinese Consul General in Nigeria. Ambassador Chao Xiaoliang expressed that both countries tend to broaden relations in the area of finance, trade, infrastructure, and people-to-people ties. Also, he hinted that both countries reached a consensus to bind themselves to the BRI. He further exerted that the investment of China in building and developing infrastructural facilities in Nigeria has totaled US$ 27 billion as of 2017. This as Nigeria signed an additional US$ 1 billion with China for additional rolling stock for the 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 a 180-kilometer rail line that connects Abuja and Kaduna, which is the first urban railway 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; fiber cable for internet infrastructure and water supply projects.

Abuja railway. Source: AFP

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