Following the recent visit of President Bola Tinubu to China, the Minister of Finance and the Coordinating Minister of the Economy, Wale Edun, has stated that the president and his Chinese counterpart, Xi Jinping, reached agreements across several areas
According to the minister, both leaders reached agreements on infrastructural developments, particularly on roads, rail and seaports.
Edun made this known while speaking to Channels Television from China.
He said, “The state visit between China and Nigeria on intensifying cooperation across all spheres, the political, the economic and of course the socio-cultural.
“So, in terms of the political, there was a commitment to joining voices and speaking with one voice across multilateral organisations such as the UN and so forth.
“And secondly, in terms of the economic and financial, there was discussion and there were number of agreements reached on infrastructure development in particular – road, rail, and seaport.”
He said that while many people always focus on borrowing and lending, there was an important emphasis on foreign direct investment from China to Nigeria in this case.
“For example, the Lekki port is actually a foreign direct investment by a Chinese company. They also participated in the construction of the port and also the financing on an equity bases.
“That is what we need to see more of – equity financing by domestic investors, by foreign investors,” he said.
