Nigeria and China have signed a $3.3 billion agreement to develop the Brass Industrial Park and Methanol Complex in Bayelsa State.
The deal, finalized at the Africa-China Conference in Beijing, is aimed at boosting Nigeria’s industrial capacity and generating jobs. This project deepens economic ties between the two countries, signaling a new era of collaboration.
Nigeria’s Minister of Finance, Wale Edun, stressed the importance of this partnership in achieving sustainable development. He highlighted President Bola Tinubu’s focus on attracting investment in infrastructure, energy, and industry to drive the nation forward. The deal is seen as a key step towards enhancing South-South cooperation.
The agreement also covers joint infrastructure initiatives like energy systems, highways, and bridges. Both nations discussed plans for security collaboration, including intelligence sharing to prevent financial crimes.
The move is expected to create a secure and transparent financial environment, strengthening economic cooperation between Nigeria and China.