Diversification: FG Seeks China’s Cooperation To Strengthen Economy

The federal government is seeking the assistance of the People’s Republic of China in the diversification of its economy, especially relating to industrialisation.

Minister of State for Foreign Affairs, Ambassador Bianca Odumegwu-Ojukwu disclosed this in her office in Abuja, when the Chinese Ambassador to Nigeria, Yu Dunhai, paid her a courtesy visit, a statement issued on Thursday by Magnus Eze, Special Assistant on Communication and New Media to the minister said.

The minister stated that Nigeria has had a robust relationship with China spanning over five decades, and noted that the ‘Renewed Hope Agenda’ of President Bola Ahmed Tinubu prioritises the diversification and strengthening of the nation’s economy.

Ambassador Odumegwu-Ojukwu highlighted the President’s commitment to strategic partnership with China mentioning establishment of electric vehicle plants, digital communication, renewable energy, all aspects of digital technology, and agriculture as major areas Nigeria needed Chinese support.
She acknowledged China’s contribution to the development of road and rail infrastructure in Nigeria.
The minister also stated that the country was taking tangible steps to improve its power sector and also modernise the ports, emphasising that all these will enable investments.

The minister further expressed Nigeria’s resolve to expand cultural relations with China even as she pointed out that many Nigeria youth were inclined to learning Chinese Language.

“It’s quite interesting that a large population of Nigeria youth is inching towards Chinese Language. A lot of Nigerian Universities are eager to offer Chinese Language. Chinese has become the language of trade in the world.

“Nigeria-China will continue to relate not just bilaterally but multilaterally. We expect that we will continue to get the support of China but we will always reciprocate that multilaterally.

“In line with President Tinubu’s plan to industrialise Nigeria, we expect Chinese cooperation in establishing assembly plants of electric vehicles; digital communication, renewable energy, all aspects of digital technology, agriculture because of food insecurity as 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,” the minister stated.

Odumegwu-Ojukwu, therefore, appealed to China to remove trade tariffs for Nigeria as it had done for 33 other African countries. Importantly, the minister said that the Renewed Hope Agenda is focusing on people-to-people contacts and country-to-country relations, the statement added.

The Chinese Ambassador in his remarks declared that Nigeria-China tie is a relationship that his country hopes to continue to grow and expand even as he described Nigeria as a great country that had remained a strategic partner to China.

Dunhai said that President Tinubu’s first official visit to China and participation in the Forum of China-Africa Cooperation (FOCAC), took the relationship between both countries to greater heights.

The envoy said that the two countries were cooperating in several areas including road development, railway modernisation, power, industrial parks, Lekki Sea Port and a lot more.

He gladly informed me that the volume of trade between Nigeria-China surpassed $21billion last year, while Nigeria’s export to the country exceeded 25 per cent.

The envoy said that manufacturing was central to industrialisation, adding that the recently renewed $2billion currency swap in the area of financial cooperation would strengthen cooperation and promote bilateral trade and investment between both countries.

Dunhai was upbeat that these progressive efforts will eventually benefit the ordinary people saying “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 G-20. These will all provide opportunities for China and Nigeria to further work together closely.

“For China, we have been very consistent. We give grants to African countries; we don’t give any conditions.”

He acknowledged that it was important that the two countries met to review how far they have performed in their bilateral cooperation.