‘Why Tinubu should activate $1.2bn MoU with China’

A former presidential aspirant on the platform of the All Progressives Congress (APC), Moses Ayom, has commended President Bola Ahmed Tinubu for his initiative to improve Nigeria’s economic partnership with China.

In a statement in Abuja, Ayom, who has played vital roles in Nigeria’s partnership with China including being part of the 2016 presidential delegation to China, called on President Tinubu to urgently activate the $1.2 billion mining equipment investment deal signed between Nigeria and China in 2016 to boost the economy.

He said the mining equipment investment deal has the potential of reinvigorating Nigeria’s economy, particularly in terms of employment to her teeming youths.

The APC chieftain also expressed fear that the delay in activating the deal portends a serious economic danger capable of attracting a N500 billion loss to the economy.

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“Shockingly, that deal with the SBM which is meant to be located in Abuja and supported by the Central Bank with RSSF is yet to take off because the grant for it is yet to be released.

“The grant is N1 billion which is still hanging from CBN under the Real sector support facility (RSSF).

“Although CBN gave different grants to respective companies, Granite and Marble, which has great potential of employing more Nigerians across the nation, especially in the northern part of Nigeria and reduce banditry, kidnapping and all forms of negative vices, is yet to take off.”

Ayom, who was the first APC presidential aspirant to withdraw from the race for Tinubu, however, said the MOU signed in Beijing on the peaceful use of Nuclear Energy and several other agreements aimed at elevating the existing relationship between the two countries has opened a positive chapter in Nigeria’s economy.