President meets Chinese president over stalled rail projects

Nigerian President, has met with his Chinese counterpart, President Xi Jinping on Friday, December 4, 2015 during the Forum on China-Africa Cooperation (FOCAC).

According to multiple reports, the two presidents met on the sidelines of the Forum on China-Africa Cooperation in Johannesburg to discuss trade and partnerships of both countries.

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According to the Presidential media aide, Garba Shehu, the President discussed Chinese funding for several stalled rail projects in Nigeria.

“Of particular interest is the coastal railway project stretching for 1,402 kilometers linking Lagos in the west with Calabar in the east; a project that is expected to be financed with a $12 billion Chinese loan and which will create 200,000 jobs,” Shehu noted in his statement.

However, President Jinping had announced his government's plans to provide over $60 billion in loans and assistance to the African continent during the forum, which will last from December 4, 2015 to  December 5, 2015.

It was further reported that the announcement comes on the heels of China’s slowing economic growth, a development which has had a profound impact upon the African continent’s economy.

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