What Nigerians think about Buhari’s recent China trip

President MuhammaduBuhari recently returned from a trip to China where he participated in the 7th Summit of the Forum on China-Africa Cooperation (FOCAC) and also discussed infrastructure financing during bilateral meetings with the Chinese President, Xi Jinping. Daily Trust asked a few Nigerians what results they think the trip should yield. Abubakar Inuwa Dutse, 48, […]

President MuhammaduBuhari recently returned from a trip to China where he participated in the 7th Summit of the Forum on China-Africa Cooperation (FOCAC) and also discussed infrastructure financing during bilateral meetings with the Chinese President, Xi Jinping. Daily Trust asked a few Nigerians what results they think the trip should yield.

Abubakar Inuwa Dutse, 48, Civil Servant, Abuja

Mambila Hydro Project: It’s expected that all the bottlenecks slowing the take-off of the $5.792 billion with a capacity of 3,050 Megawatt Mambilla Hydro electricity project will have been addressed. This will ensure the speedy completion of the 45 year project. Nigeria will also have addressed its commitment under the Paris Agreement on Climate Change since the project is a renewable energy initiative.

Infrastructure Funding: China also offered a $6bn loan to specifically fund infrastructure projects in Nigeria. With the focus on infrastructure projects by the Buhari government, the loan is expected to unleash numerous infrastructure projects across the country in roads, rails, ICT, power, etc.

Concretisation of the Naira-Renminbi/Yuan Swap Deal: Under this agreement, China would set aside a pool of billions of dollars equivalent of its “nearly convertible” currency (the Renminbi/Yuan) from which Nigerian importers can directly exchange their naira at pre-determined exchange rates, without first procuring dollars to complete their transactions.Its expected trade between the two countries will soar with the agreement.

 

Zainab Nuhu Abdullahi, Engineer, Kano

Even though I think the number of people that accompanied the president was too large, it was for the nation’s development.

Clearly, our dear Nigeria needs foreign investors to help with its infrastructure.PMB is doing the right thing by focusing on projects that will last a lifetime. These are the basic things that can move Nigeria forward.

Also, the introduction of Chinese currency Yuan will reduce the influence of the dollar as the only legal tender for international monetary exchange rate and businesses thereby reducing dollarization of our economy.

 

Nzemeka Charles, Banker, Osun

I expect impraved bi-literal relationship between the two countries, which in involve direct trading between Nigeria and China, the exchange rate between the two countries being at the lowest minimum and also, infrastructure development.

 

Hauwa A. Isah,  Entrepreneur, Jos

One thing is that since electricity is the backbone of every economy, the commencement of the Mambilla power plant project (with a capacity of over 3000MW) in 2019 will add to the power grid of the country which will aid in growth.

 

Tukur Mahmud, 26, Busiaanessman, Gombe

I expect that the Naira will stabilise and have more value against the dollar, also the prices of commodities and standard of living is expected to reduce, infrastructure development (especially roads and rail) will rapidly increase trade and goods exchange will be eased between the two countries, boosting both economies.

 

Mujib Rabiu Lawal,  28, Engineer/Lecturer, Kano

As the theme of the summit: “Towards an even Stronger China-Africa Community with a shared Future”, it will surely enhance the diplomatic relationship between China and not only Nigeria in particular but Africa in general.

The trip was aimed at strengthening diplomatic, trade and economic relations between China and Nigeria.

I believe the visit was aimed at securing greater support from the Chinese government for the development of Nigeria’s infrastructure, especially power. And it has already started yielding result as the construction of the 3, 050 megawatts Mambila Hydro-electric power station will commence by early 2019.