Tinubu Moves To Boost Nigeria’s Economy With Visit To China In September

President Bola Tinubu will in the first week of September, 2024 embark on a high-profile visit to the People’s Republic of China aimed at fostering economic ties and securing investments for Nigeria.

Briefing newsmen Tuesday on the significance of the proposed visit at the State House, Abuja, Media Adviser to the President, Ajuri Ngelale, said the President’s itinerary include site visits to prominent Chinese corporations, including Huawei Technologies and the China Rail and Construction Corporation (CRCC), to fast-track the completion of the Ibadan to Abuja segment of the Lagos to Kano high-speed rail line.

The President, according to the presidential spokesperson, will also engage in strategic meetings with 10 chief executives of major Chinese corporations, boasting assets under management totaling over $3 trillion USD, across various sectors, including ICT, oil and gas, aluminium production, seaport construction, financial services, and satellite technology development.

The visit, he stated, is expected to yield immediate and long-term benefits for the Nigerian economy and people, underscoring the President’s commitment to economic growth and development.

His words: “President Bola Tinubu, will depart for the People’s Republic of China, most specifically, Beijing, from the nation’s capital within the first week of September, to engage in a series of meetings and activities with immediate and future benefit to the Nigerian economy and the Nigerian people. 

“First and foremost, His Excellency, Mr. President, will conduct site visits to two major Chinese corporations; Huawei Technologies, as well as the China Rail and Construction Corporation, (CRCC). This is with a view to achieve one of Mr. President’s top agenda items, which is the completion of the Ibadan to Abuja segment of the Lagos to Kano high speed rail line. 

“Thereafter His Excellency, Mr. President, will meet 10 selected chief executive officers of 10 major Chinese corporations with assets under management totalling over $3 trillion US dollars across multiple sectors of the economy, including information and communications technology, refining oil and gas, aluminium production, seaport construction, harbour construction and dredging services, financial services, satellite technology development, as well as many other critical sectors”.

The presidential adviser also disclosed that President Tinubu is scheduled to meet with his Chinese counterpart, President Xi Jinping, and would be signing several Memoranda of Understanding (MOUs) aimed at deepening cooperation between the two nations.

He ssid the agreements will focus on key areas, including green economy, agriculture, satellite technology development, media enterprise development and promotion, blue economic development, and national planning cooperation.

The meeting will also provide a platform for the two heads of state to discuss matters of mutual interest, spanning economic cooperation, national, regional, and international security, and other pressing global issues.

According to him: “Mr. President will also meet with his Chinese counterpart in the person of President Xi Jinping, where several MOUs will be signed. The MOUs will involve agreements in deepening cooperation, in green economy, in agriculture, in satellite technology development, in media enterprise development and promotion, as well as blue economic development and national planning cooperation. 

“This is going to be part of a broader engagement where the two heads of state will discuss matters of mutual interest across, not just the economy, but also on issues of national, regional and international security”

Ngelale also disclosed that the President, as Chairman of the ECOWAS Authority of Heads of State and Government, will join other African leaders at the Forum on China-Africa Cooperation (FOCAC) Summit and will deliver key remarks on behalf of the region, addressing critical matters of mutual interest between China and Africa.

He added that the President will also participate in the high-level peace and security plenary, where he will share Nigeria’s perspective on regional and continental security challenges.

His words: “Furthermore, Mr. President, would thereafter join the FOCAC Summit, where several African heads of state will be present to engage with Chinese leaders on various important matters. 

“At this FOCAC Summit,  President Bola Tinubu, in his capacity as the Chairman of the ECOWAS Authority of Heads of State and Government, will deliver remarks on behalf of the region and certainly would proceed to the high level peace and security plenary, where he will further deliver remarks on peace and security in the region and in Africa in his capacity as the President of the Federal Republic of Nigeria. 

“This engagement is expected to yield very tangible, immediate and future dividends for the sake of the Nigerian economy and for the benefit of the Nigerian people and the President is placing a premium on deliverables, ensuring that this is not a talk-shop, but that this is something that will yield results for our people, justifying any expenditure that is made during the course of this trip”.

Deji Elumoye

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