Presidency reveals the first positive agreement Nigeria, China will sign as Buhari arrives Beijing

macfranc007 September 01, 2018 Nigeria News today & Breaking news ▷ Read Naija news 24/7 Eromosele Ebhomele

- President Muhammadu Buhari landed in Beijing on Saturday, September 1, and is expected to secure a bank facility

- The $328 million facility is to be used to develop the ICT infrastructure of Nigeria

- The Nigerian delegate to China is expected to sign at least 25 different MOUs during their stay

President Muhammadu Buhari arrived Beijing Saturday, September 1, to attend the Beijing summit of the Forum on China-Africa Cooperation (FOCAC) holding between September 3 and 4, 2018 and would secure a bank facility of $328 million for the development of ICT infrastructure.

“During the six-day official visit of the Nigerian president, he is expected to join his Chinese counterpart, Xi Jinping, to witness the signing of an agreement on the National Information and Communication Technology Infrastructure Backbone Phase 11 (NICTIB 11) between Galaxy Backbone Limited and Huawei Technologies Limited (HUAWEI) at the cost of US $328 million facility provided by the Chinese EXIM Bank,” a statement from Shehu Garba, Buhari’s spokesperson, said.

The statement added that the bank facility is for the development of NICTIB 11 project which is consistent with the administration’s commitment to incorporating the development of ICT into national strategic planning under the National Economic Recovery and Growth Plan (ERGP).

NAIJ.com learnt that Buhari and his Chinese host will also witness the signing of the memorandum of understanding on One Belt One Road Initiative (OBOR).

“It may be recalled that in 2013, the Chinese leader proposed the initiative of building the Silk Road Economic Belt and the 21st-Century Maritime Silk Road, with a view to integrating the development strategies of partnering countries.

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“During the high-level dialogue between Chinese and African leaders and business representatives on the margins of FOCAC, the Nigerian delegation is also expected to sign no fewer than 25 MOUs, including those proposed by the Nigerian Investment Promotion Commission (NIPC), Nigerian National Petroleum Corporation (NNPC), and Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA),” the statement added.

NAIJ.com earlier reported that President Muhammadu Buhari on Friday, August 31, departed Abuja for Beijing, China to attend the Forum on China-Africa Corporation (FOCAC) Summit.

NAIJ.com gathered that the summit which is themed Towards an even Stronger China-Africa Community with a shared Future is scheduled to hold between September 3 and 4.

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