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Nigeria Plans $328m ICT Deal with China

By Modupe Gbadeyanka

President Muhammadu Buhari is expected to join his Chinese counterpart, Mr Xi Jinping, to witness the signing of an agreement worth $328 million on the National Information and Communication Technology Infrastructure Backbone Phase 11 (NICTIB 11) between Galaxy Backbone Limited and Huawei Technologies Limited (HUAWEI) with the facility provided by the Chinese EXIM Bank.

This is part of the activities Mr Buhari is expected partake in during his stay in Beijing for the Forum on China-Africa Cooperation (FOCAC) holding September 3 to 4, 2018.

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The President left the shores of Nigeria last Saturday for the 6-day official visit.

A statement issued by the presidency disclosed that the bank facility is for the development of NICTIB 11 project which is consistent with the current administration’s commitment to incorporating the development of ICT into national strategic planning under the National Economic Recovery and Growth Plan (ERGP).

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President Buhari and his Chinese host will also witness the signing of the MOU on One Belt One Road Initiative (OBOR). It may be recalled that in 2013, the Chinese leader proposed the initiative of building the Silk Road Economic Belt and the 21st-Century Maritime Silk Road, with a view to integrating the development strategies of partnering countries.

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During the high-level dialogue between Chinese and African Leaders and Business representatives on the margins of FOCAC, the Nigerian delegation is also expected to sign no fewer than 25 MOUs, including those proposed by the Nigerian Investment Promotion Commission (NIPC), Nigerian National Petroleum Corporation (NNPC), and Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA).

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Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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