Tag Archives: China

Chinese Economic and Commercial Counselor, Mr Zhao Linxiang, has said his country promised $6.7 billion to develop Nigeria’s agriculture through training of hundreds of Nigerians to achieve food sufficiency. He spoke at the China-Nigeria Agricultural Modernisation Cooperation Forum in Abuja yesterday. The envoy further stated that China was ready to share its experience in agricultural development with Nigeria in order …

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The Chinese government is investing tens of billions of dollars as part of an ambitious economic plan to rebuild ports, roads and rail networks. China’s President Xi Jinping has pledged $124bn (£96bn) for the scheme, known as the Belt and Road initiative. “Trade is the important engine of economic development,” Mr Xi said at a summit of world leaders in …

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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 …

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Nigeria’s state-run oil firm NNPC and China State Construction Engineering Corporation (CSCEC) have signed a $23bn (£16bn; 18bn euros) deal. The two will jointly seek financing and credits from Chinese authorities and banks to build three refineries and a fuel complex in Nigeria. The project would add 750,000 barrels per day of extra refining capacity. NNPC hopes the construction of …

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