Nigeria, China Banks Explore Funding Options for Development Projects

Omolabake Fasogbon

The Director-General of the Nigeria-China Strategic Partnership (NCSP), Joseph Tegbe, is spearheading discussions with China EXIM Bank and China Development Bank to explore funding options for accelerated delivery of priority projects under the Forum on China-Africa Cooperation (FOCAC).

He said the discussions with the Chinese banks sought to review priority projects and identify innovative funding models to support their implementation. 

“We are committed to working with our Chinese partners to identify funding solutions that will support the rapid implementation of our priority projects,” he added.

In another high-level engagement, Tegbe met with renowned economist and former World Bank Director, Lin Yifu to discuss strategies for implementing policy reforms and attract major Chinese investments to Nigeria

Yifu in his address expressed readiness to support the NCSP in implementing policy reforms to draw major Chinese investments to Nigeria.

The delegation also visited TBEA, a leading power transmission and transformation company in Xinjiang. Discussions centered on high-priority opportunities such as Super Grids and investment in mini and microgrid solutions to enhance Nigeria’s power sector.

Tegbe emphasised that the NCSP team would continue engagements in Shanghai, Shenzhen, and Guangzhou to strengthen partnerships with Chinese companies involved in FOCAC projects, ensuring their swift and efficient implementation.

“We aim to leverage this partnership to address Nigeria’s development challenges through targeted investments in key sectors,” he said.

Related Articles