China, Nigeria Strengthen Alliance With New Investments And Strategic Cooperation

China and Nigeria have agreed to strengthen their partnership, focusing on economic investments, military cooperation, and regional security. The nations will collaborate on infrastructure projects, technology development, and financial initiatives like currency swaps. This strategic alliance aims to bolster Nigeria’s economy and enhance stability across the West African sub-region.

China, Nigeria Alliance
by Shairin Panwar - September 4, 2024, 11:01 am

Economic Collaboration and Investment

China has pledged to encourage its leading companies to invest in Nigeria, while the West African nation has expressed openness to Chinese firms building factories and developing its energy and mineral resources. This commitment was solidified during a meeting between Chinese President Xi Jinping and Nigerian President Bola Tinubu in Beijing on Tuesday. The discussions took place ahead of a major summit involving 50 African nations, which President Xi described as a critical opportunity to strengthen China-Africa relations.

In a joint statement released following the meeting, China welcomed Nigeria into its e-commerce and logistics sectors, emphasizing its desire to help diversify and bolster the Nigerian economy. The two nations also agreed to pursue “flexible and diverse” regional monetary and financial cooperation, including local currency swaps, to facilitate bilateral trade.

 

Military and Security Cooperation

Beyond economic ties, China has committed to supporting Nigeria in enhancing its military capabilities, including technology, equipment, and intelligence. The leaders also agreed to collaborate on maintaining peace, security, and stability in regions such as the Sahel and the Gulf of Guinea. Furthermore, both countries plan to cooperate on intelligence-sharing efforts to combat money laundering and terrorist financing.

 

Infrastructure and Technological Development

China and Nigeria intend to deepen their cooperation under China’s Belt and Road Initiative, which has already delivered significant infrastructure projects in Nigeria, such as a deep sea port and rail lines. Nigerian officials highlighted that this partnership is expected to bring robust development, stability, and security to the West African sub-region.

During his visit, President Tinubu toured the Huawei Research lab, where he secured a commitment from Huawei to establish a joint solar photovoltaic (PV) test lab in Nigeria. Additionally, another Chinese company pledged to set up an assembly plant for electric tricycles and to train Nigerians in technology and renewable energy development.

 

China, which is Nigeria’s largest bilateral lender with $5 billion in loans as of March, views this comprehensive strategic partnership as a key driver of mutual progress among Global South countries.

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