Niger State Governor Mohammed Umaru Bago was one Nigerian officials on President Bola Tinubu’s delegation to Beijing, the People’s Republic of China’s capital for a State visit and the Forum on China-Africa Cooperation (FOCAC). He speaks about the economic benefits of several agreements signed between Nigeria and China to businesses. NewsQuest was there and brings the excerpts:
Q: What is your impression about Nigeria’s participation at this year’s FOCAC?
Our outing has been very fantastic. The coming of Mr. President to China has given us more hope. The Chinese have been very skeptical about their relationship with Nigeria but this FOCAC has opened up ways and confidence to the Chinese. It is also going to do away with illegal and illicit businesses that the Chinese are doing with Nigeria, vis-a-vis, because, now, everything will be documented.
China is rolling out a lot of money to help small-medium businesses. By doing that, it is going to help a lot of entrepreneurs, that is one. Secondly, Memorandum of Understandings (MoUs) that have been signed are very timely. For instance, the Abuja/Lagos rail line has been concluded. It is going to start from Abuja through Suleija to Mina and Makwa. This is very good for us. In that way, it is going to open for agriculture and transportation. Our goods can now go to the ports easily.
There is the other issue of businesses such as telecommunication, ease of doing business, ICT, and renewable energy. These MoUs are very fantastic and have been long overdue. So, we are excited as a State and as a country.
Q: How do you see this attracting Foreign Direct Investments (FDI) to Nigeria in terms of funds to finance critical infrastructure?
The President of the People’s Republic of China has already put in $ 50 billion for FDI and this is unprecedented. And he has taken away the tariff in trade between Africa and China. That means that you can do export-free or import-free to China once it is certified.
Q: Have you keyed into this huge promise by President Xi Jinping to Africa?
So, what we are doing now during the side meetings at FOCAC is looking for businesses that want offtake agreements with us. Niger State has been able to secure about $3 billion offtake agreement, and with that, we are sure that we can go to the bank get at least $1billion. That will go a long way. It will change the fortune of our people. It will change the infrastructural landscape and bring a lot of mechanization more and more I to the deeper hinterland of Nigeria. This is what we are excited about.
