‘FG is Committed to Infrastructure Financing’

Posted on November 22, 2016

The Minister of Finance, Mrs. Kemi Adeosun on Tuesday emphasised the importance of critical infrastructure projects, especially in the areas of Rail and Power to the country’s economic development.

She spoke during the visit of the Chinese Ambassador to Nigeria, Mr. Zhou Pingjian, to her office in Abuja.

Adeosun described the commitment of the current administration to infrastructure development as serious, stressing that Nigeria is ready to take off in terms of growth and diversification.

“We are committed to the Mambilla Power Project. We are committed to Rail. We believe that we cannot properly develop our Solid Minerals and Agriculture sectors without rail transportation. So, we are committed to making sure we have an effective rail system,” she said.

She expressed the determination of the administration to deepen the good relationship between Nigeria and China because, according to her, there are great opportunities and an alignment of culture, ideas and aspirations.

In his remarks, the Chinese Ambassador described Nigeria as a close ally of China, recalling the role played by Nigeria in getting China a seat at the Security Council of the United Nations in 1971.

“We want to see the cooperation between Nigeria and China grow further. The relationship is blessed with new opportunities,” the Ambassador said.

He explained that the decision of the Chinese construction giant, China Gezhouba Group Corporation, (CGGC) to open its North-West Africa headquarters in Abuja, demonstrates the important position in which China views Nigeria.

China’s Overseas Direct Investment for the next five years is expected to be at around $750 billion.

In conclusion, the Ambassador expressed a renewed commitment to strengthen the partnership between Nigeria and China.