The People’s Republic of China and the Federal Republic of Nigeria have taken significant steps to enhance their bilateral relations. In a joint statement issued after their first plenary session of the intergovernmental committee, both countries pledged to deepen cooperation across various sectors, with a particular focus on agriculture, infrastructure, and economic development.
China’s Foreign Affairs Minister, Wang Yi, and Nigerian counterpart, Yusuf Tuggar, emphasized the importance of agricultural trade during their meeting. Nigeria recently exported a staggering ₦572.58 billion worth of agricultural products to the Asian market, including China, according to data from the Nigerian Bureau of Statistics (NBS). In response, China expressed its commitment to further increasing imports of high-quality agricultural products from Nigeria¹.
Strengthening Cooperation Beyond Agriculture
The joint statement outlines a comprehensive framework for cooperation. Both nations agreed to collaborate in various fields, including infrastructure, electricity, telecommunications, finance, industry, mining, and free trade zones. China assured Nigeria of its intention to improve agricultural imports, while Nigeria expressed its willingness to partner with Chinese companies to establish local factories for production and export.
A Business-Friendly Environment
The two sides also emphasized the need for an open, transparent, and non-discriminatory business environment. They pledged to support the multilateral trading system, oppose trade protectionism, and promote liberalization and facilitation of trade and investment. This commitment underscores their shared vision for sustainable economic growth and prosperity.
Strengthening Security and Diplomatic Ties
China further pledged to assist Nigeria in enhancing its military security technology, equipment, and intelligence capabilities. This support aims to address traditional and non-traditional security challenges both domestically and internationally. Additionally, the joint discussions reviewed over 50 years of robust Nigeria-China relations, emphasizing mutual support in international fora like the United Nations.
Currency Swap Agreement and Digital Economies
Yusuf Tuggar confirmed the deliberations, highlighting the commitment to good governance and regional stability. The currency swap agreement, designed to facilitate trade, was also reaffirmed. Both sides explored new avenues of cooperation, including joint efforts in infrastructure development and digital economies. The goal is to create a business-friendly environment that fosters economic growth and prosperity for both nations.
Read Also: In ICAN Lagos Mainland and District Society, There is Unity- Ini Esau
If You Ask Me
he China-Nigeria Intergovernmental Committee’s first plenary session marks a significant milestone in bilateral relations. With a focus on agriculture, infrastructure, and strategic partnerships, China and Nigeria are poised to strengthen their ties and contribute to regional stability and development.
