President Muhammadu Buhari on Tuesday said that Nigeria’s partnership with China through the Forum on China-Africa Cooperation (FOCAC) had attracted over $5 billion ploughed into execution of vital infrastructure projects across the country.
The President disclosed this in Beijing at the FOCAC Round Table meeting attended by African leaders and Chinese President Xi Jinping.
The Special Assistant to the President on Media and Publicity, Garba Shehu, in a statement quoted the President as saying while highlighting specific projects under FOCAC, that through China’s support, Nigeria had addressed significant challenges in the areas of infrastructure, human capacity development, power, transport, agriculture and humanitarian assistance.
President Buhari clarified: ”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 also cited the construction and operation of the first rail system in Africa that uses modern Chinese standards and technology.
He explained further: “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.
”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”, Buhari added.
According to him, the various projects has demonstrated the high level of consistency and commitment China has shown in boosting its relations with African countries under the umbrella of FOCAC.
President Buhari expressed optimism that the Summit will offer new opportunities that would build on these past achievements, just as he assured Nigeria’s continued support for the FOCAC initiative and also plans 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.
On insinuations about the so-called death trap by Chinese government on developing countries, the President explained that Nigeria would be able to re-pay the loans and was therefore not ready to play any script written by its creditors
He said: ”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.”
While commending China for its commitment to the ideals of FOCAC, the President noted that since the launch of the Forum in 2000, China and Africa had collaborated to implement the declarations and follow-up action plans for the benefits of both China and the African continent.
