Nigerian President welcomes deeper economic ties with China

(Ecofin Agency) – Nigerian President Bola Tinubu expresses openness to deepening economic relations with China, signaling a new phase of strategic partnerships between the two nations.

President Ahmed Bola Tinubu (pictured) on Wednesday (May 31) welcomed China’s special envoy Peng Qinghua during a meeting at the State House in Abuja, boosting trade, investment and infrastructure development relations between the two countries. The information was made public by Business Insider Africa this thursday 1^is June.

Zhang Yi, Minister Counselor, and Cui Jinachun, Chinese Ambassador to Nigeria, also attended the meeting. The discussion highlighted the success of Chinese companies in Nigeria, particularly in free trade zones, hydropower and highways.

President Tinubu expressed Nigeria’s determination to promote economic growth, security and regional stability, and reiterated the country’s commitment to remain non-aligned while engaging in honest business.

« Nigeria is open to business and cooperative partnerships and will seek to facilitate business accessibility. […] We need accelerated growth and we are ready to do business honestly with those who are willing to do business with us. said the new Nigerian president.

The People’s Republic of China, through its President Xi Jinping, has confirmed its intention to strengthen economic ties with Nigeria, recognizing Nigeria’s importance as an economic force on the African continent and beyond. However, despite this promising outlook, Nigeria must also navigate with caution. Some observers have noted the importance for the country of maintaining a healthy investment climate and balancing its goals with those of China.

Nigeria’s ability to take advantage of these opportunities will largely depend on whether it remains true to its democratic values ​​while working to improve the business climate and security.

The future of Sino-Nigerian relations will depend on how these business plans evolve and how the new government handles its relations with China. For now, China’s expressed confidence in the new Nigerian government portends a new phase of economic cooperation.