FG seeks China’s cooperation for economic growth, says currency swap bolstering trade

The Federal Government (FG) is seeking the assistance of China in the diversification of economy, especially relating to industrialisation.

The Minister of State for Foreign Affairs, Ambassador Bianca Odumegwu-Ojukwu, disclosed this when the Chinese Ambassador to Nigeria, Yu Dunhai, paid her a courtesy visit in Abuja on Thursday, February 20, 2025.

Odumegwu-Ojukwu stated that Nigeria has had a robust relationship with China spanning over five decades.

Odumegwu-Ojukwu noted that the ‘Renewed Hope Agenda’ of President Bola Tinubu prioritises the diversification and strengthening of the nation’s economy.

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.

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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.

She further expressed Nigeria’s resolve to expand cultural relations with China, saying Nigerian youths were inclined to learning Chinese Language.

Odumegwu-Ojukwu, however, appealed to China to remove trade tariffs for Nigeria as it had done for 33 other African countries.

Speaking, the Chinese Ambassador described Nigeria-China relations as a relationship that his country hopes to continue to grow and expand.

He described Nigeria as a great country that had remained a strategic partner to China.

Dunhai said 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 added that the two countries were cooperating in several areas including road development, railway modernisation, power, industrial parks, and Lekki Seaport, among others.

The Star