» China To Invest $60Bn In Nigeria And Other African Countries - Punch «

The People’s Republic of China has said it will invest
$60bn in Nigeria.
Chargé d’Affaires of the Chinese Embassy in Nigeria, Mr.
Qin Jian, who said this in a statement commemorating the
45th anniversary of its diplomatic activities in Nigeria,
described economic cooperation between both countries as
fruitful.
Qin said China was willing to integrate its development
with independent and sustainable development of Nigeria
and other African countries, so as achieve common
development.
He noted that at the “successful and historic” second
edition of the Forum on China-Africa Cooperation Summit
held in Johannesburg, South Africa, Chinese President Xi
Jinping proposed five major pillars for China-Africa
relations.
According to the Chinese envoy, China and Africa should
seek equality and mutual trust in politics, cooperation in
economy, mutual learning in civilisation, mutual assistance
in security and unity and coordination in international
affairs.
Qin said, “(China’s) 10 key cooperation plans with Africa in
the fields of industrialisation, agriculture modernisation,
infrastructure, etc. will serve as an all-around blueprint for
China’s cooperation with Africa in a period to come and
symbolise that China-Africa relations will take a big stride
and enter a new era.
“To fulfil the 10 plans, China has pledged 60 billion US
dollars in development funding to Africa. When carrying out
cooperation with Africa, China sticks to the principle of
‘Four noes and three priorities.’
“These include attaching no political conditions, interfering
in no African country’s internal affairs, raising no
demanding requirements and making no empty promises.”
Among the listed priorities of the Asian nation were
Africa’s demands, improvement of African people’s
livelihood and enhancement of Africa’s capacity for
independent development.