Nigeria, China Conclude Plans to Sign $328m Agreement to Boost ICT Sector
Nigerian President, Muhammadu Buhari, is expected to join his Chinese counterpart, Xi Jinping, to witness the signing of the $328m agreement on the National Information and Communication Technology Infrastructure Backbone Phase 11 (NICTIB 11) project.
This was made known by the Senior Special Assistant to the President on Media and Publicity, Garba Shehu.
— Infrastructure News (@infranewsng) September 3, 2018
This agreement would be one of the things President Buhari would be undertaking during his six-day official stay in China for the 7th Summit on China-Africa Cooperation holding between September 3 and 4.
The project which is aimed at developing information and communications technology in Nigeria would be executed by Galaxy Backbone Limited of Nigeria and Huawei Technologies Limited (HUAWEI) of China at the cost of the $328m facility that would be provided by the Chinese EXIM Bank.
According to him, 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).
Aside from witnessing the agreement of NICTIB 11 in China, President Buhari and his Chinese host will also witness the signing of the MoU on One Belt One Road Initiative (OBOR), as well as over 25 other MoUs with a view to integrating the development strategies of both countries.
These MoUs includes those involving Nigeria’s key priority infrastructure projects, particularly on-going projects in the railway and power sectors which were proposed by 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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