The People’s Republic of China has said it will invest $60bn in Nigeria.
Chargé d’Affaires of the Chinese Embassy in Nigeria, Mr. Qin Jian, who said this in a statement commemorating the 45th anniversary of its diplomatic activities in Nigeria, described economic cooperation between both countries as fruitful.
Qin said China was willing to integrate its development with independent and sustainable development of Nigeria and other African countries, so as achieve common development.
He noted that at the “successful and historic” second edition of the Forum on China-Africa Cooperation Summit held in Johannesburg, South Africa, Chinese President Xi Jinping proposed five major pillars for China-Africa relations.
According to the Chinese envoy, China and Africa should seek equality and mutual trust in politics, cooperation in economy, mutual learning in civilisation, mutual assistance in security and unity and coordination in international affairs.
Qin said, “(China’s) 10 key cooperation plans with Africa in the fields of industrialisation, agriculture modernisation, infrastructure, etc. will serve as an all-around blueprint for China’s cooperation with Africa in a period to come and symbolise that China-Africa relations will take a big stride and enter a new era.
“To fulfil the 10 plans, China has pledged 60 billion US dollars in development funding to Africa. When carrying out cooperation with Africa, China sticks to the principle of ‘Four noes and three priorities.’
“These include attaching no political conditions, interfering in no African country’s internal affairs, raising no demanding requirements and making no empty promises.”
Among the listed priorities of the Asian nation were Africa’s demands, improvement of African people’s livelihood and enhancement of Africa’s capacity for independent development. Click to signup for FREE news updates, latest information and hottest gists everyday
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This is a very sustainable move by the Chinese government to the yearning of Africa toward realistic industrial development of the Continent. The announcement actually made my day a pleasant day for me! I am appreciative of this bold decision which will have a lasting consequence on the progress of Africa as a whole. What Africa needs now is diversification of its resources to a meaningful achievement. Modern Agriculture should take priority, followed closely with infrastructures and health delivery. A nation that can not feed itself is not worthy to be called a nation! By nature, Africa has arable lands that can probably feed the entire world! My warning, the funds should be disbursed equitably so that misuse and maladministration is totally eliminated. Qualified and honest and committed Africans should be engaged and employed to manage the funds. African Union, along with the African Development Banks should have prominent roles to play with the funds. The Chinese has pledged the funds would be free from Chinese government interference which goes along way to confirm their sincerity and commitment to the success of the funds so released. This is a unique opportunity for the African Continent toward economic emancipation. It is a life long opportunity that must be taped and utilized to the fullest.
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