Buhari Signs $328 Million Agreement With China
President Muhammadu Buhari returned to Abuja last evening after signing $328 Million Agreement With China.
Buhari’s personal assistant on new media, Bashir Ahmad, who was also on entourage with him announced their landing at the Aso Rock Villa.
“After a successful outing at the #FOCAC2018 in Beijing, the People’s Republic of China, President Muhammadu Buhari returned to Abuja, yesterday,” Ahmad wrote on Twitter.
The president had gone since August 31.
During his stay in China, Buhari signed a $328 million agreement with China on the National and Communication Technology Infrastructure Backbone
(NICTIB) Phase 11.
Garba Shehu, senior special assistant to the president on media and publicity, said the NICTIB 11 project will be executed by Galaxy Backbone Limited and Huawei Technologies Limited (HUAWEI) while funding will come
from the Chinese EXIM Bank.
He also secured assurance of the China consortium for speedy completion on 3050 megawatt mambilla power project in Taraba state.
On the mambilla power project, the Presidency revealed that the Chinese consortium is targeting 2019 to complete the hydro-electric Power Plan.
Garba Shehu made this known in a statement signed yesterday.
At the meeting with Professor Lyu Ze Xiang, the President of CGCC, the construction company, on thursday in Beijing, China, Buhari asked to be briefed on time lines for the commencement of work, following his highly successful meeting with the Chinese leader, Xi Jinping.
“I am very pleased with the concern you have shown for the significance of this project,” he told the head of the construction giant, adding, “I would like you to ensure its speedy completion.”
Xiang informed President Buhari that Nigerian officials and the project consultant would meet in two weeks to address the questions raised by President Xi for more detailed and updated feasibility and sustainability studies. He said a team had already been set up to work on the financing aspect.
“We fully understand the importance of this project to the economic and social wellbeing of Nigeria. In two weeks, we will sit down with the parties for the economic and sustainability analysis. It would take about four weeks to conclude the update,” he assured.
According to the lead contractor, “pre-commencement work,” would thereafter begin, dealing with access to site and putting in place the necessary support infrastructure such as power, water and transportation.
“Our target is to commence the project early next year,” he told President Buhari shortly before the Nigerian leader’s departure at the conclusion of his six-day official trip to China.
