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Nigeria, to gain from $100 billion BRI initiative.

buhar meet Xi Ping

Nigeria and two other African countries have been selected to benefit from the Belt and Road Initiative (BRI) in excess of $100 billion.

The international support scheme was designed by the Chinese President, Xi Jinping, in 2013, as One Belt and One Road Initiative, which in 2016 was changed to BRI.

The BRI, an initiative of the Chinese government, offers an infrastructural development and investment opportunities in over 60 countries across Europe, Asia and Africa.

“the Belt and Road Initiative and production capacity co-operation between China and Nigeria” At a forum recently in Lagos, stress was laid on BRI, as an avenue to revive Nigeria business sector and impact positively on the country’s  economy

The BRI, it was gathered, had created a key international financial institution, the Asian Infrastructure and Investment Bank (AIIB) with concrete capital base of $100 billion to finance infrastructure and other correlated projects in Asia and other member nations.

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one of the beneficiary nations, Pakistan, via BRI was able to enter into $62 billion of projects programmed along the China-Pakistan Economic corridor. The investment worth is equivalent to 21 per cent of Pakistan’s Gross Domestic Product (GDP), which has not only yielded dramatic long-term impact on her domestic economy and businesses, but has also been able to shift up its energy capacity to 9,000 MW on behalf of 50 per cent increase in the country’s energy to woo investors.

the Vice Chancellor, Nnamdi Azikiwe University, Prof. Joseph Ahaneku at the forum, revealed how students from his institution bagged scholarship through China’s benevolence.

Ahaneku lauded the vast opportunity BRI has made available for students and expressed the university’s readiness to continue leveraging on those areas with a view to strengthening its ties with China for the advantage of the students.

Vice Chancellor, University of Lagos, Prof. Oluwatoyin Ogundipe, also lauded BRI and commented the attendance of China in the institution, citing the creation of Confucius Institute, where Chinese Language and culture are taught and promoted.

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Governor of Edo State, Godwin Obaseki, in his remarks, disclosed that the BRI has created a avenue and chance for Nigeria to leverage on.

Governor Obaseki expressed the preparedness of his State to accommodate every development that the Initiative brings, declaring an open door for investment.

Adebisi Egbeyemi, Deputy Governor of Ekiti State,  expressed willingness to tap immensely from the benefits of BRI by making sufficient preparation for its operation in Ekiti State.

Former Director-General, Nigerian Institute of International Affairs, Dr. Bola Akinterinwa, lauded China for opening her doors for other nations to benefit through the BRI initiative.

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