The Federal Government, in pursuit of its mission to realise the administration’s 8-point agenda of Renewed Hope, has affirmed its dedication to enhancing bilateral relations with the People’s Republic of China.
This commitment aims to foster deeper economic cooperation, resulting in mutual benefits for both nations.
During the Mid-Autumn Festival and Chinese National Day Celebration in Lagos, from September 22 to 24, 2023, Vice President Kashim Shettima, represented by the Minister of State for Steel Development, Uba Ahmadu articulated the government’s stance. He underscored the importance of strengthening economic ties with China, which would lead to expanded trade opportunities and the exploration of new avenues for investment and technological cooperation. Ahmadu emphasised that this robust business relationship would yield significant socioeconomic advantages for both countries.
Furthermore, he highlighted the critical areas of focus, which include creating a more favourable investment climate, enhancing infrastructure development and improving business conditions. These efforts aim to unlock opportunities in sectors such as steel development, agriculture, renewable energy, technology and communication. The Federal Government is committed to ensuring responsible business practices that will further enhance collaboration and long-term success.
The commercial consul at the Chinese Consulate, Mr. Guo Pengwen acknowledged the high volume of bilateral trade between both countries. Nigeria holds the third position in bilateral trade and ranks second in trade and importation. The exchange of goods and services has diversified Nigeria’s export base and strengthened economic stability, particularly in sectors like infrastructure development, telecommunications, agriculture, energy, manufacturing, and transportation. These projects have not only improved the nation’s transportation networks but have also generated employment opportunities and enhanced connectivity.
Chairman of the China Industrial and Commercial Enterprises Association, Dr. Eric Ni also highlighted the flourishing economic cooperation between China and Nigeria. Both nations recognise the immense potential for mutually beneficial partnerships, resulting in substantial Chinese investments across various sectors of the Nigerian economy. These investments have contributed significantly to economic growth, job creation, and technological advancement.
The Federal Government’s commitment to fostering stronger ties with China reflects its determination to realise its development agenda and bring about a brighter future for the nation and its citizens through strategic international collaborations.