National Wire About Nigerians, Nigerian Business and Other Stories
Contrary to rumour making the rounds at the wake of President Muhammadu Buhari’s visit to the People’s Republic of China that the Nigerian leader would sign a $2bn loan deal with China to fund the over ₦2tn budget deficit, Africa’s largest population however has gained more from the President’s visit to the Asian giant.
Presidential spokesman, Femi Adesina had refuted reports about the said loan. According to him, “There was no loan deal during the President’s visit to China. All that is coming are investments into Nigeria.”
Meanwhile, at the end of Buhari’s visit to the Asian country, Nigeria had gained immensely with over $6bn investment for the country.
Below are the investments yielded by the President’s visit.
| S/N | Sector | Companies | Value | Project |
| 1 | Power | North South Power Company Ltd & Sinohydro Corporation Ltd | $478,657,941.28 | Construction of 300 Mega Watts solar power in Shiroro, Niger State |
| 2 | Solid Minerals | Granite and Marble Nigeria Ltd & Shanghai Shibang | $55m | Construction and equipping of granite mining plant in Nigeria |
| 3 | Transport | Infrastructure Bank and Sinohydro Corporation Ltd | $1bn | Development of a greenfield expressway for Abuja-Ibadan-Lagos |
| 4 | Housing | Infrastructure Bank and Sinohydro Corporation Ltd | $250m | Development of an ultra-modern 27-storey high rise complex |
| 5 | Transport | Infrastructure Bank and Sinohydro Corporation Ltd | $2.5bn | Development of the Lagos Metro Rail Transit Red Line Project |
| 6 | Transport | Ogun Guangdong free Trade Zone & CNG Nigeria Investment | $1bn | Establishment of a hi-tech industrial Park in Ogun-Guangdong Free Trade Zone in Igbesa, Ogun State |
| 7 | Transport |
———— |
$200m | Construction of two 500MT/day float gas facilities |
| 8 | Transport |
———— |
$363m | Establishment of a comprehensive farm and downstream industrial park in Kogi State |
| 9 | Communication |
———— |
$500m (Project still under negotiation) | Provision of television broadcast equipment |
| 10 | Power | Mojec International Limited & Microstar Company Limited | $25m (Project still under negotiation) | Provision of facility for production of pre-paid smart metres |
By Dayo Emmanuel
