Nigeria signs deal with China for two communications satellites
China has agreed to build for Nigeria two communications satellites, with the $550 million fee paid entirely for Nigeria through an arrangement with China’s EXIM Bank.
The China EXIM Bank and a Chinese firm, the China Great Walls, have agreed to pay the entire $550m to procure two new satellites for the Nigerian Communications Satellite Limited. The Minister of Communications, Adebayo Shittu, disclosed this in an interview with State House Correspondents on Wednesday shortly after a meeting he had with President Muhammadu Buhari at the Presidential Villa, Abuja.
Shittu explained that the initial arrangement was that Nigeria would provide 15 per cent counterpart funding for the two satellites, while the bank and the firm would provide the balance. He said Nigeria, however, decided to renegotiate the deal when it became obvious that the country could not afford the counterpart funding. The minister explained, “Because we could not afford this 15 per cent, we have renegotiated with the China EXIM Bank and the China Great Walls, who are the manufacturers, and they have happily agreed to pay the entire $550m to procure two new satellites.
Essentially, this is foreign aid from China to Nigeria, and follows a pattern China has used recently in providing space-related foreign aid in other circumstances.
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China has agreed to build for Nigeria two communications satellites, with the $550 million fee paid entirely for Nigeria through an arrangement with China’s EXIM Bank.
The China EXIM Bank and a Chinese firm, the China Great Walls, have agreed to pay the entire $550m to procure two new satellites for the Nigerian Communications Satellite Limited. The Minister of Communications, Adebayo Shittu, disclosed this in an interview with State House Correspondents on Wednesday shortly after a meeting he had with President Muhammadu Buhari at the Presidential Villa, Abuja.
Shittu explained that the initial arrangement was that Nigeria would provide 15 per cent counterpart funding for the two satellites, while the bank and the firm would provide the balance. He said Nigeria, however, decided to renegotiate the deal when it became obvious that the country could not afford the counterpart funding. The minister explained, “Because we could not afford this 15 per cent, we have renegotiated with the China EXIM Bank and the China Great Walls, who are the manufacturers, and they have happily agreed to pay the entire $550m to procure two new satellites.
Essentially, this is foreign aid from China to Nigeria, and follows a pattern China has used recently in providing space-related foreign aid in other circumstances.
Readers!
My annual February birthday fund-raising drive for Behind the Black is now over. Thank you to everyone who donated or subscribed. While not a record-setter, the donations were more than sufficient and slightly above average.
As I have said many times before, I can’t express what it means to me to get such support, especially as no one is required to pay anything to read my work. Thank you all again!
For those readers who like my work here at Behind the Black and haven't contributed so far, please consider donating or subscribing. My analysis of space, politics, and culture, taken from the perspective of an historian, is almost always on the money and ahead of the game. For example, in 2020 I correctly predicted that the COVID panic was unnecessary, that the virus was apparently simply a variation of the flu, that masks were not simply pointless but if worn incorrectly were a health threat, that the lockdowns were a disaster and did nothing to stop the spread of COVID. Every one of those 2020 conclusions has turned out right.
Your help allows me to do this kind of intelligent analysis. I take no advertising or sponsors, so my reporting isn't influenced by donations by established space or drug companies. Instead, I rely entirely on donations and subscriptions from my readers, which gives me the freedom to write what I think, unencumbered by outside influences.
You can support me either by giving a one-time contribution or a regular subscription. There are four ways of doing so:
1. Zelle: This is the only internet method that charges no fees. All you have to do is use the Zelle link at your internet bank and give my name and email address (zimmerman at nasw dot org). What you donate is what I get.
2. Patreon: Go to my website there and pick one of five monthly subscription amounts, or by making a one-time donation.
3. A Paypal Donation or subscription:
4. Donate by check, payable to Robert Zimmerman and mailed to
Behind The Black
c/o Robert Zimmerman
P.O.Box 1262
Cortaro, AZ 85652
You can also support me by buying one of my books, as noted in the boxes interspersed throughout the webpage or shown in the menu above.
So the Nigerian bank account scammers have upped their game?
The Minister of Communications, Adebayo Shittu