Among 5 MOUs signed, Nigeria through President Bola Ahmed Tinubu signed agreement with China to join the Belt and Road Initiative (BRI).
But what exactly is the BRI, and how will Nigeria benefit from it?
– The BRI is a massive global infrastructure development project launched by China in 2013, aiming to connect over 150 countries and international organizations. It focuses on building six economic corridors, linked by road, rail, energy, and digital infrastructure, as well as the Maritime Silk Road, which connects China to Southeast Asia, Africa, and Europe through ports and sea routes.
– By joining the BRI, Nigeria expects to see further investments in its infrastructure, including roads, railways, ports, and energy systems.
– This development is expected to lead to increased economic growth, job creation, and improved connectivity with other countries. Nigeria will also benefit from access to new markets, technologies, and expertise, which could help drive its economic development.
Source: X/DOlusegun