Juliana Taiwo
29 February 2008
Abuja — President Umaru Musa Yar'Adua has called for the establishment of a beneficial strategic partnership with China in the development of the country's power, energy and transportation sectors.
Speaking at the opening of bilateral talks with President Hu Jintao of China, Yar'Adua assured the Chinese leader that his administration was already establishing a regulatory framework for the involvement of private or foreign investors in the development of public infrastructure in Nigeria.
According to a communiqué issued by both leaders, Yar'Adua said: "The direction we want to go is Private Public Partnership in which Chinese investors can partner their Nigerian counterparts to invest in these strategic areas and recoup their investments within a certain period.
"Nigeria is at the take-off point in its journey to the year 2020 when we expect to join the league of the 20 most industrialised nations in the world. We need this strategic partnership with China which we are very sure will be mutually beneficial to the two countries.
"We are looking at the role China can play in critical areas such as power, energy and transportation. I am also sure you are looking at what role Nigeria can play in providing energy security for the Peoples Republic of China. In Nigeria, we need massive investments to develop our untapped but vast gas reserves and we know China can play a vital role here. We both have strategic interest in gas.
"Nigeria needs domestic gas for power and China needs Liquefied Natural Gas for its industries. I hope Chinese companies can get involved in the ongoing discussions. Nigeria needs foreign direct investments from China to develop its transport infrastructure, especially railways and waterways as well as to develop the domestic gas grid, power generation and distribution. This kind of strategic partnership in power and energy as well as in transport infrastructure is what Nigeria needs at this period and I am sure this will help us to deepen our relationship."
He urged President Jintao to support Nigeria's aspiration to become a permanent member of the United Nations (UN) Security Council and called on China to "bring its influence to bear" on the resolution of Africa's problems, especially Darfur.
President Yar'Adua applauded the remarkable achievements China had made in economic and social development and reaffirmed Nigeria's commitment to the one-China policy.
Responding President Hintao proposed the establishment of a Nigeria-China Joint Commission on Trade and Investment.
He also promised that China would work with the African Union (AU), the UN and the Sudanese Government to achieve a permanent resolution of the crisis in Darfur.
President Hu Jintao pledged China's support for President Yar'Adua's programme of economic and social transformation as reflected in the seven-point agenda.
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So ..really Yar'Adua is working on his seven point strategy; i am truly impressed. I do hope he keeps it up and this partnership works out. Nigeria truly needs to wake and meet up to standards..anyway we have woken up just taking it one step at a time.