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‘Why Buhari Is Visiting China’

Posted: Apr 9, 2016 at 4:58 pm   /   by   /   comments (0)

Innocent Oweh ABUJA

Amid delays in assenting to the 2016 budget appropriations, President Muhammadu Buhari, will on Sunday head for Beijing,China, to secure bilateral agreements on a number of infrastructural needs for Nigeria.

His visit to China may not also be unconnected with alleged moves to seal about $2 billion low interest loans from the Chinese government, which will be instrumental in financing almost N3 trillion deficit in the budget.

The detailed budget, which has been transmitted to the Presidency, is currently undergoing scrutiny by ministers, in conjunction with their permanent secretaries, but government has said that it is constrained for funds to finance projects,especially in power, roads, railways, aviation, water supply and housing.

The President will be embarking on the trip in company of some state governors as well as the ministers for Agriculture, Water Resources, Transport, Defence, Power, Works and Housing, Industry, Trade and Investment, Federal Capital Territory, Science and Technology, and Foreign Affairs.

The trip is expected to afford the Nigerian delegation an opportunity to gain insights and understanding of the policies that guaranteed China’s astronomical economic growth.

A statement by Femi Adesina, Special Adviser to the President on Media and Publicity, also indicated that President Buhari would engage President Xi Jinping, Premier Li Keqiang and the Chairman of the Standing Committee of the National Peoples’ Congress, Zhang Dejiang, in talks for ways of boosting Nigeria’s social-economic diversification, with particular emphasis on agriculture and solid minerals development.

The statement further added that during the visit, a framework agreement between the Federal Ministry of Industry, Trade and Investment and the National Development and Reform Commission of the Peoples’ Republic of China will be signed to boost industrial activities and infrastructural development in Nigeria.

“They would also enter a memorandum of understanding on a framework agreement between the Federal Ministry of Communications and the China Aerospace Science and Technology Corporation as well as on Scientific and Technological Cooperation.

“President Buhari and his delegation will tour the Shanghai Free Trade Zone and the Guangzhou Economic and Technological Development Zone to gain more useful insights and understanding of the policies that underpinned China’s astronomical economic growth in recent years.

“There would also be China-Nigeria Business/Investment Forum in Beijing where Buhari will meet with members of the Nigerian community in China before returning to Abuja at the weekend,” Adesina said.