₦airaland Forum

President Bola Tinubu on Thursday urged the government of the People’s Republic of China to increase the $2 billion currency swap between Nigeria and China to enhance trade between the two countries.

He also called for an upward review of the $50 billion aid package for Africa, which China’s President Xi Jinping announced last year.

China and Nigeria recently renewed their currency swap agreement, valued at 15 billion yuan (approximately $2 billion), to enhance trade and investment.

Receiving the Minister of Foreign Affairs of China, Wang Yi, at the State House Abuja, the President said increasing the level of currency swaps will speed up the infrastructural development in Nigeria and deepen the strategic bilateral relations.

"We still demand more in the area of currency swap. The level you have approved as a government for Nigeria is inadequate considering our programme. If you can increase that, it will be well appreciated. Our bond should grow stronger and become unbreakable,” the President was quoted to have said in a statement signed by his media aide, Bayo Onanuga.

Regarding the 50 billion dollars pledged by the Chinese Government to support Africa, President Tinubu noted that the continent’s infrastructural needs would require more commitment, urging a review of the amount to reflect the continent’s reality.

“I am happy you are part of China’s highest decision-making body. We will want you to use your position to influence improved project funding. First, I say yes to the 50 billion dollar support, and thank you for contributing to African growth.

"The infrastructural needs of Africa are greater than that, and we want to move as rapidly as our other counterparts. All share your vision of rapid development. Africa values the relationship with China, and we seek deeper collaboration for infrastructural development,” he stated.

Tinubu called on China to support Nigeria’s bid for a permanent United Nations Security Council seat.

“You are a member of the UN Security Council. We want you to use your influence to ensure Nigeria secures the seat,” the President said.

The Nigerian leader thanked President Xi Jinping for his warm reception during his visit to China last year.

He said Africa, particularly Nigeria, was prepared to meet developmental goals and contribute counterpart project funding.

"We are ready to move and reach the various developmental goals. Due to our deliberation, we signed many MOUs and planned many action programmes.

“My visit during FOCAC was a good experience. We signed several comprehensive MOUs during the visit. We planned several programmes of action. As a result of that deliberation, I made sure that immediately after I returned, I appointed one of the best brains available to coordinate Nigeria-China relations, Mr Joseph Tegbe. He will work to actualise various MOUs and promote a greater understanding of developmental programmes.

It is good that you came at such a critical time. My visit to China was a good experience. Once again, accept my sympathy for the earthquake in Tibet. It was a natural disaster that nobody expected. We commend your government for the rapid reaction to protect lives.

Yi thanked President Tinubu for appointing a Director General and Global Liaison, Nigeria—China Strategic Partnership, to oversee the implementation of the MOUs for the rapid development of the Nigerian economy.

"I would like to thank Nigeria for abiding by the one-China principle, and we will continue to support Nigeria in achieving the Renewed Hope Agenda, countering terrorism and ensuring regional security,” he said.

Yi said Chinese investments in the country would focus on employment generation and infrastructural development. He said the Chinese National Development Bank had started funding some development projects.

He said the Chinese Government would support including an African country in the UN Security Council, adding that “it was a historical injustice by the world that should be corrected”.

“We stand with Africa, and we will not support a country that invades another country,” he stated.

The foreign minister said China would welcome Nigeria’s membership in the BRICS and participation in the global development mechanism.

He said China fully supported Dr Ngozi Okonjo-Iweala, the Director General of the World Trade Organisation (WTO), for a second term in office.

The minister lauded President Tinubu for his visionary leadership and consistency in projecting Africa’s needs, which require China’s support.

“You brought Renewed Hope to the people of Nigeria. Your economy has sustained sound momentum, and Nigeria’s global influence has steadily increased. Nigeria has played an important role in upholding regional peace and has become an important force for African stability.

“We congratulate Nigeria on its achievements and believe that, under your leadership, Nigeria will realise greater achievements,” the Chinese foreign minister stated.

bewla:
Sale us join

YeribanzaGoat:
Foolish idiot. This one is not a president but a presidiot.

Yi thanked President Tinubu for appointing a Director General and Global Liaison, Nigeria—China Strategic Partnership, to oversee the implementation of the MOUs for the rapid development of the Nigerian economy.

"I would like to thank Nigeria for abiding by the one-China principle, and we will continue to support Nigeria in achieving the Renewed Hope Agenda, countering terrorism and ensuring regional security,” he said.

The foreign minister said China would welcome Nigeria’s membership in the BRICS and participation in the global development mechanism.

SocialFinance:
Gradually, we are moving to a country of abundance and economic stability.

God bless everyone praying and working for the prosperity and peace of Nigeria.



Please who's your father? Just a harmless question or where is your village, you sound Sad and East filled with hatred and pain

frankson1:
You be Aboki or nzogbu nzogbu

olaiya2007:
Nice development

bewla:
Sale us join

epainos:
I hope Nigeria does not get too involved with China and its political goals. One China principle is something Nigeria should stay clear away from. Also, we must exercise caution when it comes to our involvement with BRICS so that we do not find ourselves in the middle of global power. We should definitely not take the South African route. Personally, I believe S.A. will face the consequences of their actions, particularly how they allowed themselves to be used to bring Israel to the International Criminal Court and all of the petitions they filed. S.A. will undoubtedly pay a high price for confronting the West.

When you are not equipped to face Goliaths in high places, you simply play your game so that you do not annoy anyone while continuing to develop yourself. When your hands reach something significant, such as acquiring enough nuclear power to do "shakara" like Putin, you can begin swaggering.

epainos:
I hope Nigeria does not get too involved with China and its political goals. One China principle is something Nigeria should stay clear away from. Also, we must exercise caution when it comes to our involvement with BRICS so that we do not find ourselves in the middle of global power. We should definitely not take the South African route. Personally, I believe S.A. will face the consequences of their actions, particularly how they allowed themselves to be used to bring Israel to the International Criminal Court and all of the petitions they filed. S.A. will undoubtedly pay a high price for confronting the West.

When you are not equipped to face Goliaths in high places, you simply play your game so that you do not annoy anyone while continuing to develop yourself. When your hands reach something significant, such as acquiring enough nuclear power to do "shakara" like Putin, you can begin swaggering.