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China to Invest Another $40 Billion in Nigeria’s Oil Pipeline

By | Jan 13, 2017 11:52 PM EST
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China to Invest another $40 Billion in Nigeria’s Oil Pipeline

Chinese Premier Li Keqiang, (R), talks during his meeting with Nigerian President Goodluck Jonathan, (L), at the Great Hall of the People on July 11, 2013 in Beijing, China.
(Photo : Getty Images)

China is investing an additional $40 billion in Nigeria's oil pipeline, according to its Foreign Affairs Minister Wang Yi on Wednesday at a bilateral meeting with Nigeria's Foreign Affairs Minister Geoffrey Onyeama in Abuja.

According to Wang, the proposed investment was an addition to the $45 biilion already invested by China to the economy of Nigeria.

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In a report in All Africa, Wang said that the purpose of his visit to Nigeria was to implement the important agreements and cooperation reached between the Chinese and Nigerian presidents as well as to work closely with the country to ensure that plans laid out in the Forum for China Africa Cooperation (FOCAC) summit are well implemented.

Strengthening Political Mutual Trust

Wang reiterated the need to further expand practical cooperation and deepen the strategic partnership between China and Nigeria to achieve further development and prosperity of both countries. He expressed optimism that his visit would further strengthen the strategic partnership between the two nations.

Meanwhile, Daily Trust reported that Onyeama expressed appreciation to Wang for including Nigeria in his Africa itinerary. He further explained that infrastructure is one of the priority areas in the diversification program of Nigeria's government and acknowledged China's help particularly in rail and airport projects.

"We know that in the area of infrastructure which is one of the priority areas Chinese government has been showing a lot of cooperation with us in this area especially in the area of transportation," he said. 

 

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