Budget and National Planning Minister, Alhaji Atiku Bagudu is one of the Ministers on President Bola Tinubu's state visit to Beijing, the capital of People's Republic of China where five Memorandum of Understanding, including the one on peaceful use of nuclear energy were signed on Tuesday. In this interview, Bagudu who is also participating at the on-going 2024 Forum on China and Africa Cooperation holding also in Beijing, speaks on the significance of the signed agreements and the renewed focus on strategic bilateral ties between the two nations. Deji Elumoye brings excerpts:
What does the signing of the five MoUs mean to Nigeria?
Today is a very important day in the history of Nigeria where the Chinese President Xi Jinping received Mr. President for an official visit. President Bola Tinubu was received with the highest level of respect to China in addition to statements of joint mutual interest and commitments to developments, security, and undertakings to work together for the betterment of Nigeria, and Africa and to partake in global development.
Specific Memorandum of Understandings were signed. Five are all development-related. Four of them were signed on behalf of the Chinese government by the National Development and Reformed Commission of China and I also signed on behalf of the Federal Republic of Nigeria.
Equally, there is one with the China International Development Agency - again, I signed on behalf of Nigeria.
These five agreements are all developmental in nature and they are in various fields of interest, ranging from agriculture, digital economy, infrastructure, youth development, and education.
One of the agreements has about 19 projects that China and Nigeria are cooperating and intend to cooperate with.
Equally, Mr. President has added more, like the Abuja/Kaduna/Kano railway, and the Eastern railway. These are all projects that are important to the infrastructure drive.
In addition, the Chinese side has indicated interest as part of the cooperation agreement to buy more from Nigeria, to import more from Nigeria, so that our trade can grow and be balanced like solid minerals, gas, and methanol development, agricultural produce as well as undertaking to support with training of our young ones for scholarships and bilateral training that will help us progress development as well as agreement to cooperate in order to foster development in the world.
There are issues, Food security is an important issue of security. So, this philosophy that we share, let's bring prosperity to all parts of the globe that require prosperity, and global security will be enhanced. I think, it is quite commendable and this is consistent with our renewed hope agenda.
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Just a few months ago, the Federal Executive Council (FEC) considered the Renewed Hope Agenda, the Renewed Hope Infrastructure Fund, which is meant to identify those projects that we need to fastract with innovative financing. They are consistent with the Belt and Roads initiative of the Chinese and their conception of development.
Today, we have a demonstration of most efforts.
How do these MoUs directly impact the economy?
The MoUs that were signed witnessed the highest level of government presence. The two Presidents witnessed it. It means all those areas of cooperation both in the projects and the cooperative mechanisms which involve relationships from fields as diverse as atomic energy, media, technology, education, health as well as projects, justice, and security.
The projects now give us the platform to engage the Chinese more and deliberately, making sure that we make progress in these areas, meaning more trade among us, more collaboration on global issues, security, and more exchange between our people so that both China and Nigeria will benefit enormously from the agreements.
