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The presidency on Saturday listed the gains from President Muhammadu Buhari’s trip to China.
Buhari and other Heads of State, Governments and delegations from 52 African countries, attended the Forum on China and Africa Cooperation (FOCAC).
His spokesman, Garba Shehu, in a statement, noted that there was the signing of USD 328 million financing agreement for the National and Communication Technology Infrastructure Backbone by the Nigerian Minister of Finance, Mrs Kemi Adeosun and Wang Xiaotoa, Director-General, China International Development Cooperation Agency.
He wrote: “As for more specific takeaways from the bilateral meetings, Nigeria received blessings of the President of the People’s Republic of China, Xi Jinping for the building of the country’s largest hydroelectric power plant in Mambila. Work on the power project will commence on the site in early 2019.
“The Nigerian delegation was able to sign thirteen agreements during the summit out of 25, with more to be signed by the Nigeria Investment Promotion Council and the Attorney-General and Minister of Justice of the Federation.
“In all, more than USD 10 billion agreements were signed. Others, still under discussion will be quantified upon the conclusion of discussions by various parties. Among those that have been signed, in agreements or MOUs include that entered between the China National Petroleum Corporation, which has agreed to secure funding for the Nigeria National Petroleum Corporation, Ajaokuta – Kaduna-Kano (AKK) gas pipeline to cost USD 2.8 billion.
“The agreement entered by the Ministry of Industries, Trade and Investment with Shandong Ruyi International Fashion Industry for USD 2 billion, for a first-ever cotton value chain; that is from cotton growing to ginning, spinning, textile manufacture and garment with Katsina, Kano, Abia and Lagos States as the chosen locations.
“Another Chinese conglomerate, Capegate Integrated is into an MOU worth USD 1.5 billion for energy and organic fertilizer that will cover Abuja, Niger, Nasarawa, Kaduna and Kano to generate: 300 MW of electricity; 500,000 tonnes of organic fertilizer; 60,000,000 litres of oil from pyrolysis; Create up to 10,000 Jobs; 400 garbage collection trucks, various types of city sanitation equipment and One million (1,000,000) waste bins to be deployed.”

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