President Muhammadu Buhari has expressed satisfaction with the outcome of<\/p>\n
his working visit to China, which has yielded additional investments in<\/p>\n
Nigeria exceeding $6 billion USD.<\/p>\n
<\/p>\n
President Buhari believes that the several agreements concluded with the<\/p>\n
Chinese during the visit will have a huge and positive impact on key<\/p>\n
sectors of the Nigerian economy including power, solid minerals,<\/p>\n
agriculture, housing and rail transportation.<\/p>\n
<\/p>\n
In the power sector, North South Power Company Limited and Sinohydro<\/p>\n
Corporation Limited signed an agreement valued at $478,657,941.28 for the<\/p>\n
construction of 300 Mega Watts solar power in Shiriro, Niger State.<\/p>\n
<\/p>\n
In the solid minerals sector, Granite and Marble Nigeria Limited and<\/p>\n
Shanghai Shibang signed an agreement valued at $55 million for the<\/p>\n
construction and equipping of granite mining plant in Nigeria.<\/p>\n
<\/p>\n
A total of $1 billion USD is to be invested in the development of a<\/p>\n
greenfield expressway for Abuja-Ibadan-Lagos under an agreement reached by<\/p>\n
the Infrastructure Bank and Sinohydro Corporation Limited.<\/p>\n
<\/p>\n
For the housing sector, both companies also sealed\u00a0\u00a0\u00a0 a $250 million deal<\/p>\n
to develop an ultra modern 27-storey high rise complex and a $2.5 billion<\/p>\n
agreement for the development of the Lagos Metro Rail Transit Red Line<\/p>\n
project.<\/p>\n
<\/p>\n
Other agreements announced and signed during the visit include a $1<\/p>\n
billion for the establishment of a Hi-tech industrial park in<\/p>\n
Ogun-Guangdong Free Trade Zone in Igbesa, Ogun State.<\/p>\n
<\/p>\n
Furthermore, the Ogun-Guangdong Free Trade Zone and CNG (Nigeria)<\/p>\n
Investment Limited also signed an agreement valued at $200million for the<\/p>\n
construction of two 500MT\/day float gas facilities.<\/p>\n
<\/p>\n
An agreement valued at $363 million for the establishment of a<\/p>\n
comprehensive farm and downstream industrial park in Kogi state was also<\/p>\n
announced at the Nigeria-China business forum.<\/p>\n
<\/p>\n
Other agreements undergoing negotiations include a $500 million project<\/p>\n
for the provision of television broadcast equipment and a $25 million<\/p>\n
facility for production of pre-paid smart meters between Mojec<\/p>\n
International Limited and Microstar Company Limited.<\/p>\n
<\/p>\n
About 100 Nigerian businesses and 300 Chinese firms participated in the<\/p>\n
Nigeria-China business forum which took place a day after President Buhari<\/p>\n
began his visit to China.<\/p>\n
<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
President Muhammadu Buhari has expressed satisfaction with the outcome of his working visit to China, which has yielded additional investments in Nigeria exceeding $6 billion USD. President Buhari believes…<\/p>\n","protected":false},"author":1,"featured_media":48559,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[17],"tags":[],"class_list":["post-48558","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-exclusive"],"yoast_head":"\n