Buhari's visit to China yields billions in speculation for Nigeria-Presidency

Press explanation from the Presidency

President Buhari has communicated fulfillment with the result of his working visit to China, which has yielded extra interests in Nigeria surpassing $6 billion USD. President Buhari trusts that the few assentions finished up with the Chinese amid the visit will have a tremendous and positive effect on key divisions of the Nigerian economy including power, strong minerals, horticulture, lodging and rail transportation.

In the force part, North South Power Company Limited and Sinohydro Corporation Limited consented to an arrangement esteemed at $478,657,941.28 for the development of 300 Mega Watts sun
based force in Shiriro, Niger State. In the strong minerals segment, Granite and Marble Nigeria Limited and Shanghai Shibang consented to an arrangement esteemed at $55 million for the development and preparing of rock mining plant in Nigeria.

An aggregate of $1 billion USD is to be put resources into the improvement of a greenfield interstate for Abuja-Ibadan-Lagos under an assention came to by the Infrastructure Bank and Sinohydro Corporation Limited. For the lodging segment, both organizations likewise fixed a $250 million arrangement to build up a ultra present day 27-story skyscraper complex and a $2.5 billion understanding for the improvement of the Lagos Metro Rail Transit Red Line venture.

Different assentions declared and marked amid the visit incorporate a $1 billion for the foundation of a Hi-tech modern park in Ogun-Guangdong Free Trade Zone in Igbesa, Ogun State. Besides, the Ogun-Guangdong Free Trade Zone and CNG (Nigeria) Investment Limited likewise consented to an arrangement esteemed at $200million for the development of two 500MT/day glide gas offices. An assention esteemed at $363 million for the foundation of a thorough homestead and downstream modern park in Kogi state was likewise declared at the Nigeria-China business gathering.

Different assentions experiencing transactions incorporate a $500 million venture for the procurement of TV telecast hardware and a $25 million office for creation of prepaid savvy meters between Mojec International Limited and Microstar Company Limited. Around 100 Nigerian organizations and 300 Chinese firms partook in the Nigeria-China business gathering which occurred a day after President Buhari started his visit to China.