Nigeria and China have signed a $3.3 billion agreement to grow the Brass Industrial Park and Methanol Complex, in Bayelsa State.

The Director of Information and Public Relations of the Federal Ministry of Finance, Mr Mohammed Manga revealed in a statement on Sunday, September 8, 2024, that the deal was signed on the side-lines of Africa-China Conference in Beijing.

According to him, the “transformative project” was expected to promote Nigeria’s industrial output and generate vital employment opportunities.

He added that the deal as a reaffirmation of the two nations’ “commitment to deepening economic cooperation, strengthening bilateral ties and fostering sustainable development.”

“The inaugural China-Nigeria Economic Cooperation and Trade Conference, held alongside the 2024 Forum on China-Africa Cooperation (FOCAC), has set the stage for unprecedented collaboration and growth between the two countries,” he continued.

Mr Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, stated that South-South cooperation was important for Nigeria’s sustainable development goals.

He praised President Bola Tinubu’s dedication to fostering a business-friendly environment to attract increased investment, particularly in key sectors such as infrastructure, energy, and industry.