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BUHARI :.........What Nigeria did with $5b Chinese loan under my govt – Buhari

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President Muhammadu Buhari has said Nigeria’s partnership with China has resulted in the execution of vital infrastructure projects across the country, valued at over $5 billion in the last three years.

He said this on Tuesday in Beijing at the FOCAC Round Table meeting, attended by African leaders and Chinese President Xi Jinping.

Highlighting specific projects under FOCAC, the President said through the Chinese support, Nigeria has impressively addressed significant challenges in the areas of infrastructure, human capacity development, power, transport, agriculture and humanitarian assistance.


He said, “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.

“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.”

President Buhari said that the aforementioned projects had demonstrated the high level of consistency and commitment China has shown in boosting its relations with African countries under the umbrella of FOCAC.

“I am optimistic that this Summit will offer new opportunities that would build on these past achievements.

“Nigeria will continue to support the FOCAC initiative and also seek 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.”

The President dispelled insinuations about the so-called debt trap by Chinese government on developing countries, insisting that Nigeria would be able to re-pay the loans.

“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,” he said.

While applauding China for its overall commitment to the ideals of FOCAC, the President acknowledged that since the launch of the Forum in 2000, China and Africa had striven to implement the declarations and follow-up action plans for the benefit of both parties.

President Buhari also commended President Jinping, his government and people for successfully hosting the Summit aimed at further strengthening China-Africa partnerships. Source: DailyPost


Friends, the time is short.  Economic and political challenges will continue till Christ. When you complete your assignment on earth, where will you spend eternity? This is the time to work-out your salvation. Now is the acceptable time!

Repent of your sins, believe the word of God and accept His Son Jesus Christ as your Lord and Saviour. He will send the Holy Spirit of God to you, who will guides you through the right choices. He will give you a new life, victory and eternal life. 

Will you accept Him today?

Say this Prayer: 

Lord Jesus I come to you as a sinner.
I am sorry for my sins, forgive me.
I believe you died for my sins, and was raised for my justification. 
Come into my heart be my Lord and Saviour, 
Give me the grace to serve You in truth and spirit. 
Thank You for saving my soul - I am born again!

His grace be with you all. 


FIRE...

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