Shettima seals $2bn MoUs with Chinese firms during visit to China

admin October 20, 2023
Updated 2023/10/20 at 10:10 AM

The National Agency for Science and Engineering Infrastructure (NASENI) and three Chinese partners have recently signed Memoranda of Understanding (MoU) for various projects with a total value of $2 billion.

This agreement is a result of Nigeria’s participation in the ongoing 3rd Belt And Road Initiative (BRI), which has already brought in $4 billion worth of letters of intent for additional projects and investments.

Furthermore, the Federal Ministry of Works has also signed an MoU with the China Harbour Engineering Company Ltd for the construction of the Lekki Blue Seaport at the Lekki Free Trade Zone in Lagos.

Vice President Kashim Shettima, standing in for President Bola Tinubu, attended the Belt And Road Initiative Forum in Beijing, China, where he witnessed the signing ceremony.

The event was also attended by the Ministers for Foreign Affairs, Power, Works, and other high-ranking government officials.

Shettima praised all parties involved and expressed his belief that Nigeria is currently in a highly favorable position for businesses to prosper.

Khalil Halilu, the Executive Vice Chairman and Chief Executive Officer (EVC/CEO) of NASENI, stated that the government has made significant efforts to create a fair environment for all investors. By removing obstacles, they have now paved the way for stronger economic and trade collaborations.

Halilu also mentioned that the agreements reached are a result of NASENI’s dedication to support the Tinubu administration’s initiative to enhance Foreign Direct Investment (FDI).

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