China sign $3.3bn deal for Industrizal Park
President Bola Tinubu rounded off his trip to China on Friday with a declaration that the hard decisions taken by his administration were inevitable in elevating the country to the desired level of development.
He told members of the Nigerians in Diaspora Organization in China (NIDO China) that the “bold and unprecedented decisions” were aimed at driving progress.
Citing the recent fuel price adjustments, President Tinubu said such moves were crucial to achieving meaningful development.
He drew parallels with China’s development, especially that country’s good roads, constant electricity and water supply, and quality schools.
“Nigeria is going through reforms, and we are taking very bold and unprecedented decisions. For example, you might have been hearing from home in the last few days about fuel prices,” his Special Adviser on Media and Publicity, Ajuri Ngelale quoted him as telling his audience at the China World Hotel in Beijing.
Continuing, Tinubu said: “But, can we help it? Can we develop good roads like you have here? You see electricity being constant in quantity and quality. You see water supply, constant and running, and you see their good schools. And we say we want to hand over a banner without stain to our children?
“What is the critical part to get us there if we cannot take hard decisions to pave the way for a country that is blessed and so talented?”
He urged Nigerians to recognise the importance of hard decisions in paving the way for a better future.
He described his China visit as “very good and successful.”
Giving an insight into his talks with President Xi Jinping, Premier Li Qiang and his participation at the 2024 Summit of the Forum on China-Africa Cooperation (FOCAC),he said his efforts were directed at strengthening cooperation in infrastructure, trade, finance, energy, green economy and mining with Beijing.
Tinubu encouraged the diaspora community to contribute positively and influence attitudes back home, warning that expecting everything for free would only delay progress.
His words: “What is uppermost in my mind is for you to continue representing Nigeria as good citizens, and I urge you all to be good ambassadors of our nation in China.
“We will always celebrate our diversity. We cherish it, but this diversity is our commitment to serve. If it is about service, we must be good citizens.”
President Tinubu also emphasised the importance of discipline and commitment to national service, citing China’s disciplined society as an example for Nigerians to follow.
“I cannot tell you more, except from the embassy, that China is a very disciplined society and we have to be disciplined too. Without discipline and commitment, we cannot build a nation that is respected everywhere in the world.
“We must exploit our diversity and be ready to do everything required of us within the laws of the communities that we live in and reflect a good image of our country,” the President said.
Highlighting the impact of investments in China’s economy, President Tinubu assured Nigerians in Diaspora that Nigeria’s Bank of Industry was prepared to collaborate with them to leverage opportunities back home.
“So many of you are so talented, speaking very fluent Mandarin. It is what you contribute and tell them at home that will reflect in the attitude of our people. The more you want everything free, it will become more expensive and long-delayed to achieve meaningful development,” the President said.
To the applause of the audience, President Tinubu stated that one key takeaway from his visit to China was the commitment to replicate China’s infrastructure back home.
“We want our children to be in good schools, not tattered huts and dilapidated buildings. We must make our teaching innovative and allow businesses of all kinds and sizes to flourish.
One economic action leads to another, and it is in your hand to build our nation. Mine is to provide the leadership, and I am committed to doing just that,” the President stated.
The President noted that while it is not always easy for a leader to have a national consensus on issues, he is ready to take the hard decisions to move the nation forward.
“We are focused, and I have a very good team,” President Tinubu added.
In his remarks, Dr. Oche Barnabas, President of NIDO China, commended President Tinubu for his commitment to strengthening Nigeria-China relations, particularly in trade, investment, and people-to-people collaboration.
He expressed NIDO China’s support for Nigeria’s 4Ds initiative, launched by the Minister of Foreign Affairs, Ambassador Yusuf Maitama Tuggar, earlier in the year.
He pledged that the organisation is eager to drive the initiative forward within the diaspora community.
Dr Barnabas requested President Tinubu’s assistance in advocating for Nigeria to be officially recognised as a native English-speaking nation, which would open up job and educational opportunities for Nigerians in China.
”Your Excellency, I wish to indulge your kind attention and use this rare opportunity to share a key challenge on behalf of the Nigerian community in China. Due to the peculiar nature of this country, the Nigerian community is mainly composed of students, expatriates, and businessmen.
”Our desire is that Nigeria is officially recognised as a native English-speaking nation in China. We believe your esteemed engagements with the high-level authorities can assist us in establishing this status.
”Presently, over 70% of available international jobs in China are reserved for native English speakers. In 2016, the local authorities listed South Africa as a native English-speaking nation.
“We believe Nigeria has a chance to receive similar recognition due to the fact that English language is our official language and we are also blessed with Professor Wole Soyinka who was awarded the Nobel Prize in Literature in 1986.
”We believe the enhancement of our status will open more opportunities to allow more Nigerians to study and work in China, thereby increasing diaspora remittance to Nigeria,” he said.
The Chairman of NIDO China pledged that the organisation would continue to contribute its expertise and resources to support President Tinubu’s administration and efforts to elevate Nigeria’s global standing.
Nigeria, China Sign $3.3bn Deal for Industrial Park
One of the highlights of the President’s visit was the signing of a $3.3 billion agreement between the countries for China to develop the Brass Industrial Park and Methanol Complex.
The project,according to the Federal Ministry of Finance, is expected to boost Nigeria’s industrial output, create a substantial number of jobs, and foster local economic growth.
It is also set to strengthen Nigeria’s position as a regional hub for industrial activity, positioning it for future growth in the energy and manufacturing sectors.
The FMF said infrastructure development was a central theme of the discussions between the two sides at the conference.
Both nations emphasised their mutual commitment to joint infrastructure projects, including roads, bridges, and energy systems, aimed at fast-tracking Nigeria’s industrialisation and boosting its long-term economic growth. These infrastructure projects are expected to enhance Nigeria’s capacity for both domestic and export-driven industrial production.
The Ministry said this partnership aligns with Nigeria’s Renewed Hope Agenda under President Tinubu and builds on Nigeria’s focus on leveraging international cooperation to enhance its domestic capabilities while China strengthens its Belt and Road Initiative through investments in strategic infrastructure.
Beyond infrastructure, the $3.3 billion agreement also includes a framework for enhanced financial and security cooperation between Nigeria and China.
Both nations committed to bolstering intelligence sharing, with a specific focus on combating money laundering and financial crimes. This move is aimed at creating a secure and transparent financial environment to support future investments and economic collaborations.
The emphasis on financial transparency is crucial as it lays the groundwork for sustained economic partnerships between the two countries.
The enhanced security cooperation will not only help safeguard investments but also contribute to strengthening the overall economic stability of Nigeria, which is critical for attracting foreign direct investment.
Minister of Finance and chair of the China-Nigeria Economic Cooperation and Trade Conference, Mr. Wale Edun underscored the importance of President Tinubu’s ongoing economic reforms which he said were designed to create a more conducive environment for sustainable growth, attracting both domestic and international investments.
Edun described international partnerships, such as those with China, as key to delivering tangible economic benefits to the Nigerian people.
He said the development of infrastructure, coupled with security and financial transparency, would help to unlock the country’s economic potential under the Renewed Hope Agenda.
For China, the partnership with Nigeria is a significant addition to its Belt and Road Initiative, which aims to enhance global trade and infrastructure networks.
The development of the Brass Industrial Park and Methanol Complex fits within China’s broader strategy to deepen economic ties with African nations and expand its influence across key economic sectors.
The project will not only boost Nigeria’s industrial capabilities but also provide China with greater access to Africa’s growing markets and natural resources.
