President Muhammadu Buhari has
said Nigeria’s partnership with China has resulted in the execution of vital
infrastructure projects across the country, valued at over $5 billion in the
last three years.
He said this on Tuesday in
Beijing at the FOCAC Round Table meeting, attended by African leaders and
Chinese President Xi Jinping.
Highlighting specific projects
under FOCAC, the President said through the Chinese support, Nigeria has
impressively addressed significant challenges in the areas of infrastructure,
human capacity development, power, transport, agriculture and humanitarian
assistance.
He said, “For Nigeria, our
partnership with China through the FOCAC platform, has resulted in the
construction of the first urban rail system in West Africa. This $500 million
project in Abuja was commissioned in July this year.”
The President also cited the
construction and operation of the first rail system in Africa that uses modern
Chinese standards and technology.
“This 180km rail line that
connects Abuja and Kaduna was commissioned two years ago at a cost of $500
million. Today the rail line is functioning efficiently with no issues –
indeed, a sign that Chinese technology is world class.
“Nigeria is leveraging Chinese
funding to execute $3.4 billion worth of projects at various stages of
completion. These include the upgrading of airport terminals, the Lagos – Kano
rail line, the Zungeru hydroelectric power project and fibre cables for our
internet infrastructure.
“Furthermore, less than 3 months
ago, Nigeria signed an additional $1billion loan from China for additional
rolling stock for the newly constructed rail lines as well as road
rehabilitation and water supply projects.”
President Buhari said that the
aforementioned projects had demonstrated the high level of consistency and
commitment China has shown in boosting its relations with African countries
under the umbrella of FOCAC.
“I am optimistic that this Summit
will offer new opportunities that would build on these past achievements.
“Nigeria will continue to support
the FOCAC initiative and also seek to key into the Belt and Road Initiative as
an additional Chinese mechanism to build further cooperation in our quest for
infrastructural and economic development.”
The President dispelled
insinuations about the so-called debt trap by Chinese government on developing
countries, insisting that Nigeria would be able to re-pay the loans.
“These vital infrastructure
projects synchronize perfectly with our Economic Recovery and Growth Plan. Some
of the debts incurred are self-liquidating. Our country is able to re-pay loans
as and when due in keeping with our policy of fiscal prudence and sound
housekeeping,” he said.
While applauding China for its
overall commitment to the ideals of FOCAC, the President acknowledged that
since the launch of the Forum in 2000, China and Africa had striven to
implement the declarations and follow-up action plans for the benefit of both
parties.
President Buhari also commended
President Jinping, his government and people for successfully hosting the
Summit aimed at further strengthening China-Africa partnerships.
No comments
Post a Comment
Kindly drop a comment below.
(Comments are moderated. Clean comments will be approved immediately)
Advert Enquires - Reach out to us at NigerianEye@gmail.com