Nigeria, China to sign $328 million agreement on ICT

Saul Bowman
September 3, 2018

In addition, ministers reviewed and adopted the Beijing Declaration themed "China and Africa: Toward an even stronger community with a shared future".

The statement read in part: "During the 6-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 U.S. $328 million facility provided by the Chinese EXIM Bank".

It is expected that the summit will adopt the new Beijing Action Plan (2019 to 2021), which will chart a new course of China-Africa friendship and mutually beneficial cooperation across various fields in the next three years.

"I am satisfied that everyday we are improving our competitiveness in the region and internationally in terms of attracting investment into the country to grow our economy, modernise our economy".

The President was invited by his Chinese counterpart, President Xi Jinping to attend the FOCAC Summit and the two heads of state are also scheduled to hold bilateral talks on the sidelines of the summit.

Jiang said China-Africa cooperation on industrialization, trade, and infrastructure will be the major topic during the meeting.

Shehu said the President and his Chinese host would also witness the signing of the MOU on One Belt One Road Initiative.

Focac will bring together 52 African countries, the African Union (AU) Commission and the People's Republic of China, as equal partners in fostering greater unity and cooperation.

He singled out the energy sector as a key area Zimbabwe needed to run efficiently to accelerate national development.

China and Africa represent different stages on the same development path, with Africa remaining in a primary stage of development with huge potential yet to be unleashed. Some of these projects include the Mombasa-Nairobi Standard Gauge Railway in Kenya and the Addis Ababa-Djibouti Railway project.

The FOCAC is a model of South-South cooperation and the Beijing summit will focus on unity, cooperation and common development, which are highly consistent with the UN's goals and purposes, he said.

China's resolve in comprehensively deepening reform is unchanged.

India too in recent years has stepped up its political, diplomatic and economic engagement with Africa in recent years.

Analysts say that Beijing's policies towards the continent have not changed significantly, but have seen less-than-expected returns on projects they have financed, even as African governments, growing more aware of the risks of taking on debt, have pushed for more favourable deals.

That is why the World Bank is looking for the lessons from China's experience which can be replicated in the rest of the developing world.

At the Johannesburg summit, Xi announced United States dollars 60 billion in funding support for infrastructure development in Africa.

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