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China Trip Yields Over $6bn Investments, Says Buhari


President Muhammadu Buhari, on Friday, expressed satisfaction that his just-concluded one week official trip to China had yielded over $6bn additional investments for Nigeria.
The Senior Special Assistant to the President on Media and Publicity, Garba Shehu, said this in a statement made available to journalists.

Shehu said the President believed that the agreements concluded with the Chinese during the visit would have a huge and positive impact on key sectors of the Nigerian economy including power, solid minerals, agriculture, housing and rail transportation.
He said, “In the power sector, North South Power Company Limited and Sinohydro Corporation Limited signed an agreement valued at $478,657,941.28 for the construction of 300 megawatts solar power in Shiriro, Niger State.
According to the presidential spokesman, other agreements announced and signed during the visit include $1bn for the establishment of a Hi-tech industrial park in Ogun-Guangdong Free Trade Zone in Igbesa, Ogun State.
He added that the Ogun-Guangdong Free Trade Zone and CNG (Nigeria) Investment Limited also signed an agreement valued at $200m for the construction of two 500MT/day floating gas facilities.
Buhari, in another statement, said his administration would take urgent steps to restructure Nigeria’s economy.
He said he would achieve this by encouraging new investments in mining, agriculture and manufacturing.