Bauchi state government has signed a $1 billion memorandum of strategic cooperation on investment potentials with Chinese investors.
The investments are in the areas of agriculture, solid minerals and tourism and the establishment of 100MW solar power project with Chinese investors.
A statement by the press Secretary to Governor Mohammed Abdullahi Abubakar of Bauchi state, Abubakar Al-Sadique quoted Governor Mohammed Abubakar as saying that that the two memoranda of strategic cooperation on investment potentials was signed by Bauchi state government with the China-Africa International Cooperation Economic Preparatory Committee.
He said that China is the most viable and reliable friend Nigeria has as said by President Muhammadu Buhari.?
Governor Abubakar said, “With the saturation of businesses in Lagos, Kano and Port Harcourt, the next destination to look for business opportunities is to look in places like Bauchi. Bauchi state is the right destination for investors with the unprecedented endowment of mineral resources”, he said.
The team under the China- Africa International Cooperation Economic Preparatory Committee to bring economic investments to Bauchi state to create a better future for the state.
The Chinese Team Leader Mr. Liang, said the team was in Bauchi in continuation of a memorandum of understanding on investments in Nigeria signed in China by President Buhari and Chinese leaders.
The Nigerian leader of the team, Captain Mohammed Joji explained that the team was set to invest $20 billion in Nigeria and is investing one billion dollars in Bauchi state.
Under the memorandum of understanding, the Chinese investors would provide 70% of the resources, while Bauchi state government provides the remaining 30%, the statement added.