Bauchi Signs $1bn Investment Deals With Chinese Firms

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Governor Abubakar of Bauchi State

 

By; MOHAMMED KAWU, Bauchi
A Memorandum of Strategic Cooperation on Investment potentials in areas of agriculture, solid minerals and tourism, and a Memorandum of Understanding (MoU) on the establishment of 100MW solar power project with Chinese investors worth $1billion was Monday signed by the Bauchi state government.
A press statement signed by press secretary to the state governor, Abubakar Al-Sadique quoted the governor as saying, “China is easily the most viable and reliable friend Nigeria.
The sentiment about China, the statement said, was also expressed by President Buhari, explained further that the two memoranda of strategic cooperation on investment potentials was signed by Bauchi state government with the China-Africa International Cooperation Economic Preparatory Committee.
It said that Governor Abubukar has thanked the Chinese investors for the giant strides, saying “With the signing of the memoranda, history is being made in Bauchi state”.
According to the statement, with the saturation of businesses in Lagos, Kano and Port Harcourt, the next destination to look for business opportunities is to look in places like Bauchi.
Governor Abubukar explained that Bauchi state is the right destination for investors with the unprecedented endowment of mineral resources, as he assured the state is committed to the full implementation of the two memoranda.
It noted that the team under the China- Africa International Cooperation Economic Preparatory Committee to bring economic investments to Bauchi state is creating a better future for the state.  
The Chinese Team Leader Mr. Liang, said the team was in Bauchi in continuation of a memorandum of understanding on investments in Nigeria signed in China by President Buhari and Chinese leaders, stressing that it is to cooperate with government to develop Bauchi into “the fastest growing state in the whole of Nigeria”, with the cooperation.
Mr. Liang explained that the Chinese firms will invest in the state to invest in areas of power, agriculture, mining, education and tourism to improve the lives of the people of Bauchi, and sought the support of the people in the execution of the projects.
The Nigerian leader of the team, Captain Mohammed Joji explained that the team, which is set to invest $20 billion in Nigeria, is devoting one billion USD to Bauchi state.
Under the memorandum of understanding, the Chinese investors would provide 70% of the resources, while Bauchi state government provides the remaining 30%, the statement concluded.

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