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ECHOnigeria Forum / Naija Info / Sanwo Olu seeks $1bn infrastructure investment from China DFI (1 Post | 351 Views)
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Sanwo Olu seeks $1bn infrastructure investment from China DFI by Scandalbuster(f) : 5:03 pm |
The Lagos State Governor, Mr Babajide Sanwo-Olu, has asked the China Development Bank to increase its investment in Nigeria to $1bn. Sanwo-Olu, who made the request during a meeting with the bank’s President, Mr Quyang Weimin, said it would help the state’s infrastructural needs. The state government said in a statement on Friday that the governor was embarking on an investment drive to China. Sanwo-Olu was quoted to have said there were huge developmental projects in Lagos the bank could support the state in developing. He said, “We are determined to build a 21st century economy, and infrastructural development is one of the key deliverables for a modern economic system and society to run efficiently and effectively. “With functional infrastructure, businesses will thrive and the city will be more habitable. So, as a government, we are talking to you now about our needs and the areas of intervention where we require your support. “Even though I know that you have to consider a lot of factors as a bank, I can assure you that you cannot get it wrong with Lagos and Nigeria as a whole. “Lagos is Africa’s seventh largest economy and the most populous on the continent. The state has enjoyed political stability for 20 years and has consistently grown across key economic indices.†He said the bank should be involved in the Fourth Mainland Bridge construction, railway projects, road construction around the free trade zone and water projects. Weimin was also quoted to have said he had confidence in Lagos State and Nigeria. He said, “I am particularly happy that Lagos State has a vibrant and visionary leader who is ready to take the state forward. “We are different from commercial banks because we are focused on development and greater good of humanity. We give loans at the lowest cost and very long loan maturity period.†Weimin said he had deep interest in the ideas and looked forward to supporting the state.
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