Nigeria has signed a $328 million agreement with China on the National and Communication Technology Infrastructure Backbone (NICTIB) Phase 11.
The NICTIB 11 project is aimed at developing information and communications technology in Nigeria.
Garba Shehu, senior special assistant to President Muhammadu Buhari on media and publicity, disclosed this in a statement on Saturday.
NAN reports that the agreement was signed when Buhari arrived in Beijing, China, for the 2018 Forum on China–Africa Cooperation (FOCAC), with Chinese President Xi Jinping witnessing the signing.
The NICTIB 11 project, the statement said, will be executed by Galaxy Backbone Limited and Huawei Technologies Limited (HUAWEI) while funding will come from the Chinese EXIM Bank.
“The bank facility is for the development of NICTIB 11 project which is consistent with the current administration’s commitment to incorporating the development of ICT into national strategic planning under the National Economic Recovery and Growth Plan (ERGP),” the statement read.
“President Buhari and his Chinese host will also witness the signing of the MoU on One Belt One Road Initiative (OBOR).”
In 2013, the Chinese president had proposed the initiative of building the Silk Road Economic Belt and the 21st-Century Maritime Silk Road, with a view to integrating the development strategies of partnering countries.
During the FOCAC Summit, the Nigerian delegation is also expected to sign no fewer than 25 MoUs.
“These include those proposed by the Nigerian Investment Promotion Commission (NIPC), Nigerian National Petroleum Corporation (NNPC), and Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA),” the statement read.