HomenewsGeneralNigeria, China seal $3.3bn Brass Industrial Park deal

Nigeria, China seal $3.3bn Brass Industrial Park deal

  • September 9, 2024
  • Posted by: Destiny Young
  • Category: General
No Comments

Nigeria, China have signed a $3.3 billion deal to develop the Brass Industrial Park and Methanol Complex, in Bayelsa State.

The Director of Information and Public Relations of the Federal Ministry of Finance, Mr. Mohammed Manga, in a statement last night, disclosed that the deal was signed on the sidelines of Africa-China Conference in Beijing.

He said the “transformative project” was expected to significantly boost Nigeria’s industrial output and generate vital employment opportunities.”

The director described the deal as a reaffirmation of the two nations’ “commitment to deepening economic cooperation, strengthening bilateral ties and fostering sustainable development.”

“The inaugural China-Nigeria Economic Cooperation and Trade Conference, held alongside the 2024 Forum on China-Africa Cooperation (FOCAC), has set the stage for unprecedented collaboration and growth between the two countries,” he added.

The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, was said to have underscored the significance of South-South cooperation, highlighting its pivotal role in Nigeria’s sustainable development goals.

Edun emphasized President Bola Tinubu’s dedication to fostering a business-friendly environment to attract increased investment, particularly in key sectors such as infrastructure, energy, and industry.

Infrastructure development—a cornerstone of the China-Nigeria partnership—was said to be a major focus of the discussions.

Both nations reiterated their commitment to joint infrastructure projects, including roads, bridges, and energy systems, aimed at accelerating industrialization and driving long-term economic growth in Nigeria.

Financial and security cooperation also took center stage, with both countries agreeing to enhance intelligence sharing to combat money laundering and financial crimes.

“This marked a critical step toward ensuring a secure and transparent financial environment, laying the groundwork for continued economic collaboration,” Mr. Manga said.

Source: Vanguard News
Link: https://www.vanguardngr.com/2024/09/nigeria-china-seal-3-3bn-brass-industrial-park-deal/

Facebook Comments
Post Views: 1,496


Author: Destiny Young
Destiny Young (He/Him) is a distinguished IT professional with over 17 years of industry expertise. His impressive academic portfolio includes an HND and BSc (Hons) in Computer Science, a Master of Technology in Information Technology from the University of South Africa (UNISA), an MBA with distinction and a first-class MSc in Digital Transformation from Nexford University, Washington, DC. He currently an MSc student at the Department of Computer Science and IT, Paul University, Awka, Anambra State, specialising in Cybersecurity and also pursuing doctoral degree in Business Administration (DBA) with a specialisation in Technology Management at ANAN University Business School. A Chartered IT Practitioner, Manager, and Administrator, Destiny's focus lies in Cybersecurity and Digital Transformation. His professional affiliations include membership in the Computer Professional Registration Council of Nigeria (CPN), Nigeria Computer and British Societies, Chartered Institute of Administration of Nigeria (CIA), and Nigerian Institute of Management (Chartered). He is a Fellow of the Institute of Information Management (IIM). Destiny's unique blend of academic excellence and practical experience positions him as a leading voice in the ever-evolving landscape of information technology and cybersecurity.

Leave a Reply

Positive SSL Wildcard