Chargé d’Affaires of the Chinese Embassy in Nigeria, Mr. Qin Jian said, “(China’s) 10 key cooperation plans with Africa in the fields of industrialisation, agriculture modernisation, infrastructure, etc. will serve as an all-around blueprint for China’s cooperation with Africa in a period to come and symbolise that China-Africa relations will take a big stride and enter a new era.
“To fulfil the 10 plans, China has pledged 60 billion US dollars in development funding to Africa. When carrying out cooperation with Africa, China sticks to the principle of ‘Four noes and three priorities.
’“These include attaching no political conditions, interfering in no African country’s internal affairs, raising no demanding requirements and making no empty promises.”
Nigeria must make sure it benefits from this Chinese $60 billion package. It isn’t stuffed up with unpalatable conditions. We failed to benefit from AGOA when it lasted, and that would have been a great way to diversify Nigeria’s economy. Then we had
Then we had high price of oil as a cushion. Now we don’t. Government should be serious about this Chinese package. We need the money.
We actually need the money if it will be invested wisely
Borrowing for consumption is counterproductive as we have seen throughout this outgoing government.