*China to increase investment in Nigeria
with agency reports
29 September 2015, Sweetcrude, Abuja – President Muhammadu Buhari in New York, United States of America on Sunday stated that the prosecution of those suspected to have looted the treasury of Nigerian National Petroleum Corporation, NNPC, will begin soon.
The president also restated his determination to fully sanitise the oil industry and make it totally free of corruption and shady deals.
President Buhari spoke at a meeting with China’s President Xi Jinping on the sidelines of the 70th General Assembly of the United Nations.
He recalled that he had to reorganise the Corporation by appointing a new management, saying it was one first necessary step to take.
President Buhari also expressed gratitude to the Chinese President for the country’s assistance to Nigeria in curbing crude oil theft even as he applauded China’s interception of shiploads of crude oil stolen from Nigeria.
“We know your stand on corruption, and we are grateful. Your continued cooperation in curbing oil theft from Nigeria will be appreciated,” Buhari said.
President Buhari also hinted the Nigerian military had been re-trained and re-equipped under his administration, stressing that this was responsible for the steady gains the military has recorded against Boko Haram.
Also speaking, President Jinping told President Buhari that China which is already handling many projects in Nigeria in areas like railway, airports, agriculture, and in the Mambilla Hydro-power project, among others, will increase its investment in the country’s agricultural sector to support the achievement of domestic food security.
He also promised further Chinese investments in Nigeria’s oil and gas industry, and more support for human capital development in the country.