China plans fresh $40b investment in Nigeria

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The Chinese government on Wednesday announced a fresh $40 billion investment in the Nigerian economy.

The Chinese Foreign Affairs Minister, Mr. Wang Yi, made the disclosure at a bilateral meeting with his Nigerian counterpart, Mr. Geoffrey Onyeama, in Abuja.

The minister said China had already invested up to $45 billion in the Nigerian economy.

He said, “Nigeria and China are strategic partners. Our relations have been developing well. China has already invested or financed a total number of $22billion projects here in Nigeria, another $23billion projects are ongoing.

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“In addition, we are also following up another over $40billion of investments which is in the pipeline.

“Compare with the size, population and markets of our two countries, our cooperation still have large potential to be deepened.”

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He also pointed out that to achieve further development and prosperity, Nigeria and China need to strengthen political mutual trust and deep complementary between the two nations.

He stressed the need to further expand practical cooperation and deepen strategic partnership between the two countries.

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He expressed confidence that his visit would be a successful one and play a dual role in further strengthening the strategic partnership between China and Nigeria.

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