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Home Economy Nigeria, China to sign $328m agreement on ICT
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Nigeria, China to sign $328m agreement on ICT

By
Prnigeria
-
September 2, 2018
President Muhammad Buhari
President Muhammad Buhari

Nigeria, China to sign $328m agreement on ICT

President Muhammadu Buhari arrived Beijing to attend the Beijing Summit ­ of the Forum on China-Africa Cooperatio­n (FOCAC) holding on Monday and Tuesday.

During the 6-day official visit of the Nigerian President, he is expected to join his Chinese counterpart, Xi Jinping to witness the signing of an agreement on the National Information and Communication Technology Infrastructure Backbone Phase 11 (NICTIB 11) between Galaxy Backbone Limited and Huawei Technologies Limited (HUAWEI) at the cost of US $328 million facility provided by the Chinese EXIM­ Bank.

Senior Special Assistant on Media and Publicity, Garba Shehu said the bank facility is for the development of NICTIB 11 project, which is consistent with the current administration’s commitment to incorporating the development of ICT into national strategic planning under the National Economic Recovery and Growth Plan (ERGP).

Read Also:

  • Anambra Police Foil Lynching of Murder Suspect, Launch Full Investigation
  • FG Reaffirms Non-Interference in ICPC, EFCC Operations
  • El-Rufai and the Politics of Shifting Loyalties, by Kabir Akintayo

President Buhari and his Chinese host will also witness the signing of the MoU on One Belt One Road Initiative (OBOR).In 2013, the Chinese leader proposed the initiative of building the Silk Road Economic Belt and the 21st-Century Maritime Silk Road, with a view to integrating the development strategies of partnering countries.

During the High Level Dialogue between Chinese and African Leaders and Business representatives on the margins of FOCAC, the Nigerian delegation is also expected to sign no fewer than 25 MoUs, including those proposed by the Nigerian Investment Promotion Commission (NIPC), Nigerian National Petroleum Corporation (NNPC), and Nigerian Association of Chambers of Commerce, Industry, Mines and Agricult­ure (NACCIMA).

President Buhari will today meet Nigerians living in China before the kick-off of FOCAC on Monday when he will join President Jinping and other African leaders for roundtable sessions, which will essentially discuss the report of FOCAC since the 2015 Johannesburg Summit, including the implementation of the ‘‘ten cooperation plans’’ adopted at the last meet­ing.

The Summit is also expected to adopt the Beijing Declaration and the Action Plan for the development of China-Africa cooperation and fashion out new opportunities to grow Nigeria-China comprehensive strategic partnership from 2019 to 2021.

By PRNigeria

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Anambra Police Foil Lynching of Murder Suspect, Launch Full InvestigationFG Reaffirms Non-Interference in ICPC, EFCC OperationsEl-Rufai and the Politics of Shifting Loyalties, by Kabir AkintayoCourt Voids Military’s 15-Year Mandatory Service Rule Before ResignationsNCTC Urges Forensic and Non-Military Strategies in Regional Fight Against TerrorismTroops Eliminate Bandits, Recover Rustled Cattle in KadunaKano Police Bust Kidnap Syndicate, Arrest SuspectsPolice Arrest Four after ₦5m Ransom Payment in AnambraCivil Service Gets New Framework for Training and Talent ManagementTinubu Orders Overhaul of Katsina Security Operation, Hints at State PoliceNigeria, South Africa Renew Security Cooperation to Protect Africa’s StabilityEid-ul-Maulud: FG Declares Friday Public HolidayCustoms Gets 4 New Deputy Comptrollers-General, 12 ACGs, Promotes 3,312 OfficersVIP Convoys and the Tragedy of Everyday Nigerians By Kabir AbdulsalamTinubu Reverses NTA Shake-Up, Recalls DG Salihu Dembos, Executive Director of News
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