International News
President Yar’Adua seeks strategic partnership with China
Feb 28, 2008, 15:51
| | President Umaru Musa Yar’Adua has called for the establishment of a mutually beneficial strategic partnership strategic with China for the rapid development of Nigeria’s power and energy sector as well as its transportation infrastructure.
The President who made the call at bilateral talks with President Hu Jintao of China on February 28 in Beijing, noted that the direction his administration want to go is Private-Public-Partnership in which Chinese investors can partner with their Nigerian counterparts to invest in these strategic areas and recoup their investments within a certain period.
He told the Chinese leader that his administration was already establishing a regulatory framework for the involvement of private or foreign investors in the development of public infrastructure in Nigeria.
He stated that Nigeria is at the take-off point in its journey to the year 2020 when she expects to join the league of the twenty most industrialised nations in the world. This strategic partnership with China is therefore needed, as it will surely be mutually beneficial to the two countries.
While noting that Nigeria is looking at the role China can play in critical areas such as power, energy and transportation, the President expressed hope that China is also looking at what role Nigeria can play in providing energy security adding that massive investments are needed to develop Nigeria’s untapped but vast gas reserves, an area which he observed that China can play a vital role.
“We both have strategic interest in gas. Nigeria needs domestic gas for power and China needs LNG for its industries. I hope Chinese companies can get involved in the on-going discussions. Nigeria needs foreign direct investments from China to develop its transport infrastructure, especially railways and waterways as well as to develop the domestic gas grid, power generation and distribution.
“This kind of strategic partnership in power and energy as well as in transport infrastructure is what Nigeria needs at this period and I am sure this will help us to deepen our relationship,” President Yar’Adua told his Chinese counterpart.
He also urged the Chinese leader to support Nigeria’s aspiration to become a permanent member of the United Nations Security Council and called on China to “bring its influence to bear” on the resolution of Africa’s problems, “especially Darfur”.
Responding to President Yar’Adua’s remarks, President Hu Jintao proposed the establishment of a Nigeria-China Joint Commission on Trade and Investment.
He promised that China would work with the African Union, the United Nations and the Sudanese Government to achieve a permanent resolution of the crisis in Darfur.
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