China plans $40 billion investments in Nigeria’s oil pipeline

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The Chinese Foreign Affairs Minister, Mr Wang Yi, has disclosed that his government is planning to invest another $40 billion on Nigeria’s oil pipeline.

The minister stated this yesterday at a bilateral meeting with his Nigerian counterpart, Geoffrey Onyeama in Abuja. Yi said the proposed investment was in addition to the already-financed $22 billion projects and the $23 billion ongoing projects.

“China has already invested or financed a total number of $22billion projects here in Nigeria, another $23billion projects are on-going.

In addition, we are also following up another over $40billion of investments which is on the pipeline,” he said. The minister said he was in the country to implement the important agreement and cooperation reached between the Chinese and Nigerian presidents, as well as work closely to ensure that the outcome of the FOCAC summit are well implemented in Nigeria.

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