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Nigerian economy: Tinubu visits Chinese leader Xi Jinping in September

"His Excellency, President Bola Ahmed Tinubu, will depart for the People's Republic of China, most specifically, Beijing, from the nation's capital within the first week of September, to engage in a series of meetings and activities with immediate and future benefit to the Nigerian economy and the Nigerian people"

Samuel AkpanAugust 27, 20241.6k

In a bid to strengthen economic relations and attract investments to Nigeria, President Bola Tinubu will visit the People’s Republic of China in the first week of September this year.

Chief Ajuri Ngelale, the Special Adviser on Media and Publicity to the President, announced during a briefing with State House correspondents on Tuesday that President Tinubu will meet with Chinese President Xi Jinping, sign memoranda of understanding, and lead an African presentation at the Forum on China-Africa Cooperation (FOCAC) Summit

Ngelale noted that the president’s agenda includes visits to major corporations, such as Huawei Technologies and the China Railway and Construction Corporation (CRCC).

He stated that Tinubu’s engagement with CRCC aims to expedite the completion of the Ibadan to Abuja segment of the Lagos to Kano high-speed rail line, reflecting his commitment to enhancing Nigeria’s infrastructure and economic growth.

He pointed out that President Tinubu will also meet with 10 chief executives from major Chinese corporations, which collectively manage over $3 trillion in assets.

He said: “His Excellency, President Bola Ahmed Tinubu, will depart for the People’s Republic of China, most specifically, Beijing, from the nation’s capital within the first week of September, to engage in a series of meetings and activities with immediate and future benefit to the Nigerian economy and the Nigerian people.

“First and foremost, His Excellency, Mr. President, will conduct site visits to two major Chinese corporations: Huawei Technologies as well as the China Rail and Construction Corporation (CRCC). This is with a view to achieving one of Mr. President’s top agenda items, which is the completion of the Ibadan to Abuja segment of the Lagos to Kano high-speed rail line.

“Thereafter His Excellency, Mr. President, will meet 10 selected chief executive officers of 10 major Chinese corporations with assets under management totalling over $3 trillion US dollars across multiple sectors of the economy, including information and communications technology, refining oil and gas, aluminium production, seaport construction, harbour construction and dredging services, financial services, satellite technology development, as well as many other critical sectors.”

Persecondnews reports that President Tinubu and his Chinese counterpart, President Jinping, would be signing several Memoranda of Understanding (MOUs) aimed at deepening cooperation between the two nations.

He added: “Mr. President will also meet with his Chinese counterpart in the person of President Xi Jinping, where several MoUs will be signed.

“The MoUs will involve agreements in deepening cooperation in the green economy, in agriculture, in satellite technology development, in media enterprise development and promotion, as well as blue economic development and national planning cooperation.

“This is going to be part of a broader engagement where the two heads of state will discuss matters of mutual interest across, not just the economy, but also on issues of national, regional, and international security.”