The Next Edition
  • Home
  • About Us
  • News
  • Featured
  • Investigations
  • Foreign
  • Special Reports
  • Entertainment
  • Interviews
  • Advert Rate
No Result
View All Result
The Next Edition
No Result
View All Result
  • Home
  • About Us
  • News
  • Featured
  • Investigations
  • Foreign
  • Special Reports
  • Entertainment
  • Interviews
  • Advert Rate
Home Headline News

JUST IN: FOCAC: How Nigeria benefitted over $5bn projects –Buhari

Olalekan Saliu by Olalekan Saliu
September 4, 2018
in Headline News
JUST IN: FOCAC: How Nigeria benefitted over $5bn projects –Buhari
0
SHARES
12
VIEWS
Share on FacebookShare on TwitterShare on Whatsapp

Nigeria’s partnership with China through the Forum on China-Africa Cooperation (FOCAC) has resulted in the execution of vital infrastructure projects across the country, valued at over $5 billion in the last three years of the current administration.

President Muhammadu Buhari disclosed this on Tuesday in Beijing at the FOCAC Round Table meeting, attended by African leaders and Chinese President Xi Jinping.

You might also like

Ambassador Sarafa Tunji Isola To Chair 7th Penpushing Media Anniversary Lecture

APC Reinstates Kebbi Gov’s Aide Suspended For Bringing Snake To Gov’t House 

Udeme Ufot to chair QEDNGCreative Powerhouse Summit

Highlighting specific projects under FOCAC, the President said through the Chinese support, Nigeria had impressively addressed significant challenges in the areas of infrastructure, human capacity development, power, transport, agriculture and humanitarian assistance.

According to him, ”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’s media aide, Garba Shehu, in a statement made available to The Next Edition, said Buhari 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,” he noted.

President Buhari said that ”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.”

The Nigerian leader 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,” he said, adding that, ”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.”

President Buhari dispelled insinuations about the so-called death 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 Beijing Summit aimed at further strengthening China-Africa partnership.

Tags: $5bn projectsbenefittedBuhariFOCACheadline newsJUST INNIgeriaNIGERIA NEWS
Olalekan Saliu

Olalekan Saliu

Recommended For You

Ambassador Sarafa Tunji Isola To Chair 7th Penpushing Media Anniversary Lecture

Ambassador Sarafa Tunji Isola To Chair 7th Penpushing Media Anniversary Lecture

  A former Nigerian Ambassador to United Kingdom, Ambassador Sarafa Tunji Isola has accepted the role of chairman at the 7th anniversary lecture of Penpushing Media, scheduled to...

APC Reinstates Kebbi Gov’s Aide Suspended For Bringing Snake To Gov’t House 

APC Reinstates Kebbi Gov’s Aide Suspended For Bringing Snake To Gov’t House 

    The All Progressives Congress (APC), Kebbi chapter has announced the reinstatement of Alhaji Kabir Sani-Giant, Special Adviser to Gov. Nasir Idris on Power and Politics.  ...

Udeme Ufot to chair QEDNGCreative Powerhouse Summit

Udeme Ufot to chair QEDNGCreative Powerhouse Summit

  Mighty Media Plus Network Limited, publishers of the online newspaper QEDNG, has announced Udeme Ufot as Chairman of the inaugural QEDNG Creative Powerhouse Summit.   Ufot is...

”You Are Not Just Planting Trees, You’re Planting Blessings,” Dr. Majekodunmi Lauds OMTI

”You Are Not Just Planting Trees, You’re Planting Blessings,” Dr. Majekodunmi Lauds OMTI

    July 3rd, 2025, as the thick clouds had gathered over the coastal city of Lagos and the heavens opened the floodgates for a wet rainy day,...

Next Post
Berlin Conference rakes in $2.52bn to fight Boko Haram

Berlin Conference rakes in $2.52bn to fight Boko Haram




Related News

State Governors Under-utilising Their Constitutional Powers – Olisa Agbakoba

State Governors Under-utilising Their Constitutional Powers – Olisa Agbakoba

Hijab: Kwara TESCOM Directs Principals, Teachers, Staff To Report On Friday

Hijab: Kwara TESCOM Directs Principals, Teachers, Staff To Report On Friday

Reduce Interest Rate To 1%, Manufacturers Beg FG

Reduce Interest Rate To 1%, Manufacturers Beg FG




The Next Edition

Office Address

3B, Agboola Aina street, Off Toyin Street,
Ikeja, Lagos.

Quick Contact Details

Phone:
08033018430
Whatsapp:
08051679910

Email:
[email protected]
[email protected]

Categories

  • Aviation
  • Beauty
  • Breaking News
  • Business
  • Columnists
  • Editorial
  • Entertainment
  • Fashion
  • Featured
  • Football
  • Foreign
  • Headline News
  • Home & Garden
  • Interviews
  • Investigations
  • North Central
  • North East
  • North West
  • Opinion
  • Parenting
  • Politics
  • Relationships
  • South East
  • South West
  • South-South
  • Special Reports
  • Sports
  • Top News
  • Vox Pops

© Next Edition Business Development Limited

  • About Us
  • Advert Rate
  • Contact Us
  • Privacy Policy
  • Terms of Use
No Result
View All Result
  • Home
  • About Us
  • News
  • Featured
  • Investigations
  • Foreign
  • Special Reports
  • Entertainment
  • Interviews
  • Advert Rate

© Next Edition Business Development Limited