As part of President Muhammadu Buhari’s 6-day official visit to attend the Beijing Summit of the Forum on China-Africa Cooperation (FOCAC) holding September 3 – 4, 2018, Nigeria and its host, China have concluded plans to seal a $328million agreement to develop Information and Communications Technology infrastructure in Nigeria.
Details of the agreement, according to a statement issued and signed Garba Shehu, Senior Special Assistant to the President (Media & Publicity), the agreement is on the National Information and Communication Technology Infrastructure Backbone Phase 11 (NICTIB 11) between Galaxy Backbone Limited and Huawei Technologies Limited (HUAWEI).
The facility will be provided by the Chinese EXIM Bank, and 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).
The statement reads in part: “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.
“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).”