International Relations: China To Invest $60bn In Nigeria


Business relations between the People’s Republic of China and Nigeria seem to be deepening as China through its Chargé d’Affaires in Nigeria, has said it will invest $60 billion in Nigeria, as part of efforts to integrate its development with independent and sustainable development of Nigeria and other African countries, so as achieve common development.

In a statement to commemorate the 45th anniversary of its diplomatic activities in Nigeria, Chargé d’Affaires of the Chinese Embassy in Nigeria, Mr. Qin Jian, described economic cooperation between both countries as fruitful.

Qin Jian reiterated that the Chinese President, Xi Jinping had at the second edition of the Forum on China-Africa Cooperation Summit held in Johannesburg, South Africa, which he described as “successful and historic”, proposed five major pillars for China-Africa relations.

The Chinese envoy mentioned that, China and Africa should seek equality and mutual trust in politics, cooperation in economy, mutual learning in civilization, mutual assistance in security and unity and coordination in international affairs.

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In Qin’s words:

“(China’s) 10 key cooperation plans with Africa in the fields of industrialization, agriculture modernization, infrastructure, etc. will serve as an all-around blueprint for China’s cooperation with Africa in a period to come and symbolize that China-Africa relations will take a big stride and enter a new era.

“To fulfil the 10 plans, China has pledged $60 billion in development funding to Africa. When carrying out cooperation with Africa, China sticks to the principle of ‘Four noes and three priorities’.

“These include attaching no political conditions, interfering in no African country’s internal affairs, raising no demanding requirements and making no empty promises,” he said.

Among the listed priorities of the Asian nation were Africa’s demands, improvement of African people’s livelihood and enhancement of Africa’s capacity for independent development.

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