China asks FG to tap into $43.5bn fund for economic devt

By Vera Samuel Anyagafu & Prince Okafor

THE government of the Peoples’ Republic of China has urged the Federal Government of Nigeria to tap into its $43.5 billion fund to enhance the nation’s economic growth. This is even as the Chinese government increased its Belt and Road Initiative (BRI) Fund by 100 billion Yuan ($14.5 billion), following the global acceptance of the Initiative.

The Belt and Road Initiative aims to connect Asia, Europe and Africa along five routes, geared towards policy co-ordination, facilities connectivity, unimpeded trade, financial integration, and people-to-people bonds.

In a chat with Vanguard, China Consul General to Nigeria, Mr. Chao Xialiang, stated: “The BRI offers an ideal platform and framework to Nigeria in conducting cooperation, not only with China, but also with all participating countries. Through the platform of BRI, Nigeria can obtain more opportunities to strengthen its infrastructure, diversify its economy and integrate itself into the world economy. With more initiatives, efficiency, willingness and proper forms of participation, Nigeria can take advantage of the BRI as a strong driving force to help realise its own development strategy.”

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