China and Nigeria Agree to Boost Bilateral Ties by Improving Business Cooperation
16:06 01.06.2023 (Updated: 10:44 03.08.2023)
© Photo Twitter / @officialABATNigerian President Bola Tinubu held a meeting with the Special Envoy of Chinese President XI Jinping and Vice Chairman of Chinese National People's Congress Peng Qinghua at the State House on May 31.
© Photo Twitter / @officialABAT
Nigeria is one of China's main development partners in Africa. Chinese investment in the country exceeds $20 billion, mainly in areas including the creation of export-processing zones, oil extraction, and agriculture. According to China's ambassador to Nigeria, Beijing is the leading contributor to its infrastructure development.
Chinese President Xi Jinping has reiterated the country's commitment to boost economic cooperation with Nigeria, stating that the West African nation is important to the continent and the world in general, media has reported.
His comments come as Nigerian President Bola Tinubu held a bilateral meeting with the Special Envoy of the Chinese President and Vice Chairman of the Standing Committee of the National People's Congress Peng Qinghua at the State House in the capital city of Abuja on May 31.
Peng was the leader of the Chinese delegation to the inauguration ceremony of Nigeria's newly-elected President Tinubu, who was sworn in on Monday. The delegation also included the Chinese Ambassador to Nigeria Cui Jianchun and his deputy.
Speaking on behalf of the Chinese president, Peng hailed Tinubu's plan to lead the nation to a new era of economic development and prosperity.
He also noted that there are some areas in which Nigeria could benefit while cooperating with China. In this regard, he called on the two states to share ideas and harmonize strategies, urging the president to continue efforts aimed at creating a more conducive environment for investment.
President Tinubu, for his part, stated that Nigeria is open for cooperation in business and construction, promising that his administration will focus on improving conditions for doing business in the country.
"We need accelerated growth, and we are ready to do business honestly with those ready to do business with us," he said, adding: "I look forward to stronger diplomatic ties and increased economic cooperation between our two countries."
He also confirmed that Nigeria will continue to promote democratic values in West Africa, noting that his administration will "work day and night to advance democracy."
Following the meeting, Tinubu's media team released a statement saying that China and Nigeria have strong bilateral relations and economic ties. It was in particular indicated that Chinese companies are actively working in Nigeria in railways, roads, hydropower and the creation of free trade zones.