China commits to refinancing Abuja-Kano, P/Harcourt-Maiduguri railways

China has committed to refinancing and completing the Abuja-Kano and Port Harcourt-Maiduguri railway projects. President of the Peoples Republic of China, Xi Jinping, made the pledge on Wednesday while responding to requests made by President Bola Ahmed Tinubu who was represented by Vice President Kashim Shettima at a bilateral meeting with the Chinese leader in […]

China has committed to refinancing and completing the Abuja-Kano and Port Harcourt-Maiduguri railway projects.

President of the Peoples Republic of China, Xi Jinping, made the pledge on Wednesday while responding to requests made by President Bola Ahmed Tinubu who was represented by Vice President Kashim Shettima at a bilateral meeting with the Chinese leader in Beijing. The VP is in China for the ongoing Belt and Road Initiative Forum (BRI) in Beijing.

Shettima, according to a statement by his spokesman, Stanley Nkwocha, recalled that since the launch of the projects, China had yet to release funds for the two major railway projects in Nigeria largely due to cutbacks and commitments.

China had agreed to provide 85 per cent financing for the construction of the Abuja-Kano and Port-Harcourt-Maiduguri railway projects, while Nigeria which had the duty of paying the balance 15% paid its part of the funding from the inception of the project through appropriations.

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The crucial infrastructure also termed a legacy project has the China Civil Engineering Construction Corporation as the contractors named to execute the project.

The Chinese president, who pledged increased investment in Nigeria’s power generation and digital economy, called for the protection of Chinese nationals working in Nigeria, saying he would, in turn, ensure that the Nigeria-China bilateral relation is stronger than before.

President Jinping promised that China would enhance political support and build cooperation in all fields, just as he appreciated Nigeria’s support of one China Policy.

In the area of security, President Jinping promised a continued crackdown on terrorists, assuring categorically that China was committed to peace in the Sahel region, more so that its long-standing military training and MoUs on joint exercises remained sacrosanct.

Speaking earlier, Shettima described the rail projects as vital to President Tinubu and the people of Nigeria, saying it remained a legacy project that would further open up the nation’s economy, create jobs and boost trade and investments across the country.

The VP said President Tinubu remained committed to a stronger Nigeria-China tie, adding that it was ladened with respect, non-political interference and mutual international cooperation.

President Jinping had before his audience with the VP formally declared the Forum which had numerous heads of state and top government officials open.

Shettima said Nigeria would leverage its relationship with China to adopt programmes that would improve the country’s digital space, among other benefits.

He also assured member countries of the Belt and Road Initiative of Nigeria’s readiness to “collaborate with the group and other emerging markets to bring about a positive shift in the growth and development of global economies.”

The Vice President stated these in his keynote address with the theme, “Digital Economy As a New Source of Growth,” delivered during the High-Level Forum.