President Muhammadu Buhari is already counting the benefits of his current week-long visit to China.
He said government is now ready more than ever before to restructure the economy by encouraging new investments in mining, agriculture and manufacturing.
For now,Chinese investments in excess of $6billion are on the cards,the President’s Senior Special Assistant on Media and Publicity, Garba Shehu, announced yesterday.
The investments are in such critical sectors of the economy like power, solid mineral resources, agriculture, housing and rail transportation.
Top on the list of the investments is the $1 billion for the development of a green field expressway for Abuja-Ibadan-Lagos under an agreement reached with the Infrastructure Bank and Sinohydro Corporation Limited.
Also coming,according to Shehu ,is a 300 Mega Watts solar power in Shiriro, Niger State estimated to cost $478,657,941.28.
In the solid minerals sector, Granite and Marble Nigeria Limited and Shanghai Shibang signed an agreement valued at $55 million for the construction and equipping of granite mining plant in Nigeria, while the housing sector is attracting an ultra modern 27-storey high rise complex which will cost $250million.
There is a separate agreement for the development of the Lagos Metro Rail Transit Red Line project.
The project will cost $2.5billion.
Other agreements signed during the visit include the establishment of a hi-tech industrial park at the Ogun-Guangdong Free Trade Zone in Igbesa, Ogun State,costing $1billion; the construction of two 500MT/day float gas facilities also at the for $200million; the establishment of a comprehensive farm and downstream industrial park in Kogi State at a cost of $363 million; a $500 million project for the provision of television broadcast equipment; and a $25 million facility for production of pre-paid smart metres between Mojec International Limited and Microstar Company Limited.
And speaking at a reception in his honour in Guangzhou, yesterday by the Communist Party of China, Buhari said government was determined to restructure the economy by encouraging new investments in mining, agriculture and manufacturing.