From Basil Obasi, Abuja
The Minister for Budget and National Planning, Senator Udoma Udo Udoma, at the Forum on China-Africa Cooperation (FOCAC) meeting in Bergin, last weekend, made a strong case on why the Chinese government should support Nigeria in funding major infrastructure projects in the country.
Media Adviser to the Minister, Mr. James Akpandem, in a statement, said that Nigeria seeks to get about $20 billion Chinese funding for critical projects in the form of grants, aids, investments and loans from the $60 billion pledged by the Chinese government at the Johannesburg Summit in South Africa in December 2015.
Senator Udoma called on China to give special attention to Nigeria considering its strategic relationship with it as well as economic potentials and capacity to redeem its part of the transaction obligations.
The Minister said following the meetings, both countries expressed satisfaction with the proposals and are very anxious to take proceedings to the next level.
Also speaking, China’s State Councilor, Yang Jiech, explained that the FOCAC meeting was initiated in order to take stock of the delivery of summit outcomes, to align our thinking, built consensus, overcome challenges, share experience and promote cooperation.
In his remark, the President of China, Xi Jinping applauded the proceedings of the meeting stating that it is an important step taken by China and Africa to implement the consensus of Chinese and Africa leaders and the outcomes of the FOCAC.
The President noted that the current weak performance of the world economy brings both opportunities and challenges to the economic development of China and Africa; “We must stand shoulder to shoulder and march forward hand in hand,” he admonished.
… Identifies lack of funds, coordination as bane of tech devt
By Olabisi Olaleye
The Federal Government has identified lack of funding and effective coordination as bane of technological development in Nigeria.
Minister of Science and Technology, Dr. Ogbonaya Onu, stated this during his official visit to Omatek’s world-class technology manufacturing factory in Lagos yesterday.
He noted that the present administration was keen on ensuring that it deepens research and development (R&D) that would unlock the nation’s economic prosperity through effective partnership with indigenous players in the science and technology industry.
The Minister also noted that the administration was ready to work with the country’s indigenous technology firm to grow the ICT industry.
He also disclosed that Nigeria has remained a mono-product economy relying on oil as the major source of foreign exchange earnings.
“The current administration is bent on leveraging Information and Communication Technology and Science and Technology as an enabler of economic development and to diversify the economy.”
“This is because any support we give to ICT is also a support to Nigeria. No nation has ever been truly great in the world without science and technology. Nigeria should aspire to be a truly great nation in technology innovation in the world. What is lacking is that over the years, Nigerians have not paid adequate attention to technology,” he said.
He further stated that, “no nation has ever succeeded by not looking inward and that every great nation has looked inward to patronise its locally-developed technological innovations and other products and as such, Nigeria is looking towards that direction as well to encourage patronage of locally-developed products. The earlier we do this, the better for us.”
He, however, explained that the latter’s target was to reduce power consumption by households, businesses and government by 85 per cent.
Speaking earlier, Group Managing Director of Omatek Ventures Plc, Mrs. Florence Seriki, hinted that power generation and distribution have been major issues in the country, stating that solar power solutions would play a significant role in dealing with the issue of power vacuum in the country.