The
Presidency on Saturday said President Muhammadu Buhari did not sign any loan
deal with the Peoples Republic of China during his just-concluded one-week
working visit to the country.
The
Special Adviser to the President on Media and Publicity, Mr. Femi Adesina, gave
the clarification in an interview.
Ahead
of Buhari’s trip which started last Sunday, there were media reports that he
would sign a $2bn loan deal with China during the visit as the Federal
Government sought funds to finance the over N2tn budget deficit.
Reuters had reported that Adesina confirmed that
loan agreement would be signed but he could not say how much until it was
signed.
But
the presidential spokesman said on Saturday that there was no
iota of truth in the report.
“There
was no loan deal during the President’s visit to China. All that is coming are
investments into Nigeria,” he stated.
At
the conclusion of the visit on Friday, the Presidency had said the President’s
trip yielded over $6bn additional investments for Nigeria.
The
Senior Special Assistant to the President on Media and Publicity, Garba Shehu,
disclosed this in a statement made available to journalists.
Shehu
said the President believed that the agreements concluded with the Chinese
during the visit would have a huge and positive impact on key sectors of the
Nigerian economy, including power, solid minerals, agriculture, housing and
rail transportation.
He
said, “In the power sector, North South Power Company Limited and Sinohydro
Corporation Limited signed an agreement valued at $478,657,941.28 for the
construction of 300 Mega Watts solar power in Shiriro, Niger State.
“In
the solid minerals sector, Granite and Marble Nigeria Limited and Shanghai
Shibang signed an agreement valued at $55m for the construction and equipping
of granite mining plant in Nigeria.
“A
total of $1bn is to be invested in the development of a greenfield expressway
for Abuja-Ibadan-Lagos under an agreement reached by the Infrastructure Bank
and Sinohydro Corporation Limited.
“For
the housing sector, both companies also sealed a $250m deal to develop an ultra
modern 27-storeyed high rise complex and a $2.5bn agreement for the development
of the Lagos Metro Rail Transit Red Line project.”
According
to the presidential spokesman, other agreements announced and signed during the
visit included $1bn for the establishment of a hi-tech industrial park in
Ogun-Guangdong Free Trade Zone in Igbesa, Ogun State.
He
added that the Ogun-Guangdong Free Trade Zone and CNG (Nigeria) Investment
Limited also signed an agreement valued at $200m for the construction of two
500MT/day float gas facilities.
“An
agreement valued at $363m for the establishment of a comprehensive farm and
downstream industrial park in Kogi State was also announced at the
Nigeria-China business forum.
“Other
agreements undergoing negotiations include a $500m project for the provision of
television broadcast equipment and a $25m facility for production of pre-paid
smart meters between Mojec International Limited and Microstar Company Limited.
“About
100 Nigerian businesses and 300 Chinese firms participated in the Nigeria-China
business forum, which took place a day after President Buhari began his visit
to China,” Shehu added.
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