Yemisi Izuora
Nigeria and China have agreed to deepen cooperation in areas such as clean energy, defence and finance, with China pledging support for Nigeria’s issuance of Panda bonds to fund infrastructure, the two countries’ foreign Ministers said on Thursday.
Trade between the two nations amounted to $22.6 billion in 2023, according to Abuja.
Meanwhile, official Chinese media reported that China is Africa’s top business partner, with $167.8 billion worth of trade in the first quarter of 2024.
“China has all along viewed and developed relations with Nigeria from a strategic height and a long-term perspective, hoping to further our solidarity and cooperation,” Chinese Foreign Minister Wang Yi said.
“We will continue to understand and support each other on issues concerning our respective core interests, and as we both pursue development and vitalization, continue to pursue cooperation for mutual benefit.”
Nigerian Foreign Minister Yusuf Tuggar and his Chinese counterpart Wang Yi also outlined efforts to address regional security challenges.
Wang was visiting Nigeria as part of a wider four-nation tour of Africa, an annual journey seen as aimed at advancing Beijing’s already considerable influence on the continent.
His visit to Nigeria follows recent high-level exchanges, including intergovernmental committee talks in Beijing last June and Nigerian President Bola Tinubu’s state visit to China in September.
These meetings have culminated in the elevation of bilateral relations to a “comprehensive strategic partnership”, Wang told a press conference.
Wang said China will “favourably study and consider” a request by Nigeria to expand a currency swap agreement.
On regional peace and security, Wang said that at the United Nations Security Council China would always vote in favour of Africa, adding it would continue to support Nigeria in rallying countries in the region.
“We will work with Africa to address insecurity and achieve long-term stability through development,” he said.