There was no contracts awarded to CHINESE companies in Nigeria that was successfully executed. They’re the most DUBIOUS set of people to deal with in terms of business.
Incidentally, they capitalize on the porous nature of businesses in Africa to devour African businesses.
In 2008, Obasanjo awarded $340 million (N40bn) contracts for NIGCOMSAT-1 satellite launch. It disappeared in the orbit immediately after launch due to faulty Solar panels.
As we speak; Nigeria is still yet to recover from the failed project.
Nigeria loses N222 billion in one year in shady crude oil swap deals – NEITI
Obasanjo awarded $841.6m rail project without MoU – Chinese firm
In 2008, Obasanjo awarded $841.6m rail projects. Mobilization was paid for the commencement and when the projects failed; CHINESE firm suddenly realized that there was no MOU in the contracts.
The contracts were duly signed between FG and CHINESE company.
Let’s talk about Crude oil swap DEALS. Since Goodluck Jonathan’s regime; CHINA has been lifting our crude oil for short loan given to Nigerian government above the loan amounts in the name of Crude oil swap DEALS.
According to NEITI, Nigeria loses N222BN ANNUALLY on CRUDE oil swap DEALS from CHINA companies.
I deliberately don’t want to talk about failed cctv projects in Abuja using CHINESE companies.
During Goodluck Jonathan’s regime; contracts were awarded to CHINESE companies to upgrade some airports such as Margret Ekpo airport and Enugu Airport to International standards.
The Instrument Landing Service (ILS) brought from CHINA failed INTEGRITY TEST from the beginning . But they capitalize on the LAPSES in Africa to perpetrate their ACT.
Presently, Enugu Airport is SHUTDOWN for over two months because no one borders to investigate previous contracts that failed. Meanwhile, EFCC is waiting for PETITIONS for failed projects.