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Friday, February 21, 2025

Nigeria woos China to advance economic diversification agenda

Ms Odumegwu-Ojukwu described China as one of Nigeria’s largest trade partners, saying the two countries have a long history of economic cooperation.

• February 21, 2025
Chinese ambassador to Nigeria Yu Dunham and Bianca Odumegwu-Ojukwu
Yu Dunham and Bianca Odumegwu-Ojukwu

The federal government on Thursday called for deeper bilateral cooperation with China towards advancing Nigeria’s economic diversification agenda.

The Minister of State for Foreign Affairs, Bianca Odumegwu-Ojukwu, called for cooperation in a statement following the visit of the Chinese ambassador to Nigeria, Yu Dunham, to the ministry.

Ms Odumegwu-Ojukwu described China as one of Nigeria’s largest trade partners, saying the two countries have a long history of economic cooperation.

According to her, Nigeria is hopeful that China’s support will further strengthen the robust relationship between the two countries for decades and President Bola Tinubu’s administration’s ‘Renewed Hope Agenda’, which seeks to reposition the nation’s economy through diversification.

The minister expressed Nigeria’s commitment to expanding cultural relations with China. She acknowledged that many Nigerian youths are increasingly interested in learning to speak Chinese.

“We expect that we will continue to get the support of China, and we will always reciprocate that multilaterally. In line with President Tinubu’s policy to industrialise Nigeria, we expect China’s cooperation to enable us to establish assembly plants for electric vehicles.

“Also, digital communication, renewable energy, all aspects of digital technology, and agriculture because of food insecurity. The government is interested in seeing that food gets to the poorest of the poor. Government is not just talking about food but has established a separate Ministry of Livestock,” she said.

She underscored the need for the Chinese government to remove trade tariffs for Nigeria as it has done for 33 other African countries to encourage people-to-people exchanges between both countries.

Mr Yu described the ties between Nigeria and China as one that will continue to grow and expand. He praised Nigeria for being a great and strategic partner to China.

He said Mr Tinubu’s first official visit to China and his participation in the Forum of China-Africa Cooperation helped to strengthen the relationship between the countries.

According to him, the two countries have worked collaboratively in several areas, such as road construction, railway modernisation, power, industrial parks, and the Lekki Sea Port.

He said the trade volume between Nigeria and China surpassed 21 billion dollars in 2024, while Nigeria’s exports to the country exceeded 25 per cent.

According to him, with the economy’s manufacturing sector being central to industrialisation, the recently renewed $2 billion currency swap in financial cooperation would strengthen cooperation and promote bilateral trade and investment between both countries.

“We have a comprehensive strategic partnership with Nigeria. China would want Nigeria to play a big role in the international scene. We want Nigeria to become a member of the G-20.

“These will all provide an opportunity for China and Nigeria to further work closely.

“China has been consistent. We give grants to many African countries and we don’t give any conditions,” Mr Yu said.

(NAN)

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