Is China Nigeria’s New Best Friend?
It appears Nigeria has found good true friendship in China.
Here is proof:
From January to November 2017 alone, the volume of trade between the two countries hit $12.3 billion, about 4.5 trillion naira.
According to Deputy Chinese Ambassador to Nigeria, Lin Jing, this figure represents a 30% increase compared to the same period of 2016.
More so, Nigeria is the biggest Chinese investment destination in Africa, the second largest export market and the third largest trading partner of China in Africa, according to Lin.
“The bilateral trade is a very important mechanism to boost our economic relationship,” said Lin.
“We believe that by maintaining our normal trade volume, our overall economic relation and cooperation will be boosted and given impetus to our overall relationship,” he added.
Nigeria and China established formal diplomatic relations in February 1971.
The envoy, however, said both countries, in 2005, established strategic partnerships to promote relations in several areas and enhance continued people-to-people exchanges.
He explained that said such strategic partnership was fostered as a result of Nigeria’s importance to China.
Agreements by both countries following the strategic partnership, he said, paved way for Chinese investment and development opportunities in Nigeria.
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