Nigeria and China have inked a $3.3 billion deal for the development of the Methanol Complex and Brass Industrial Park.
The Ministry of Finance made this revelation in a statement signed on Friday by Mohammed Manga, Director of Information and Public Relations.
The statement claims that the deal was inked at the first China-Nigeria Economic Cooperation and Trade Conference and the 2024 Forum on China-Africa Cooperation (FOCAC).
The park was hailed as a game-changing initiative that would greatly increase Nigeria’s industrial production and create much-needed job opportunities.
“In a historic event chaired by the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, Nigeria and China have reaffirmed their commitment to deepening economic cooperation, strengthening bilateral ties, and fostering sustainable development,” the statement said. It marked the beginning of a new era of economic cooperation.
“Unprecedented collaboration and growth between the two countries have been made possible by the first China-Nigeria Economic Cooperation and Trade Conference, which was held in conjunction with the 2024 Forum on China-Africa Cooperation (FOCAC).”
“The Honourable Minister emphasized the value of South-South collaboration in his keynote speech, emphasizing its critical role in Nigeria’s sustainable development aspirations. In his capacity as the event’s chair, he also led discussions on important areas of cooperation between the two countries.
