Nigeria, China to Sign $60 billion agreement to finance Africa’s development –FG

The Presidency says Nigeria will sign more agreements with China in the next couple of days as the 7th Forum on China-Africa Cooperation (FOCAC) is underway in Beijing.

The Special Adviser to President Muhammadu Buhari, Mr Garba Shehu, said this on Monday during an interview with Channels Television’s Politics Today, in reaction to the pledge of the Chinese government to provide $60 billion to finance Africa’s development.

“Agreements are already being signed. As of today, eight agreements have been signed and we expect that about 25 of such agreements will be signed before the delegation returns to Nigeria,” he said.

Speaking further, he said the government hopes to draw more financial support from China, to drive key infrastructural projects in the country.

“Following the last summit in South Africa, the investment by China in Nigeria in -particular has more than doubled, with the increasing financing of infrastructure, railway, roads, bridges and power. So, on a government to government level, we expect that we will be drawing a lot more financing from China for key infrastructural projects”.

The 7th Forum on China-Africa Cooperation (FOCAC) kicked off on Monday with President Muhammadu Buhari in attendance, alongside some government officials and state governors.

The opening ceremony followed a series of engagements by the President, including his meeting with some Nigerians living in China.

During the meeting, President Buhari addressed a number of issues which the country faces such as security, migration, among others.

He also spoke about the 2019 general election, noting that he was not afraid of a free and fair exercise.

He said all Nigerians eligible to vote in the general elections will be allowed to freely elect candidates of their choice.