Leaders sign agreements on nuclear energy, media sharing and infrastructure ahead of summit on China-Africa cooperation.
China and Nigeria have pledged to deepen economic ties ahead of a summit that will showcase Sino-African cooperation, signing deals on nuclear energy, media exchanges and Beijing's flagship $1 trillion infrastructure initiative.
Chinese President Xi Jinping and Nigerian President Bola Tinubu held talks in Beijing on Tuesday ahead of the opening of the Forum on China-Africa Cooperation.
Xi and Tinubu said they had elevated ties between their countries to a “comprehensive strategic partnership” ahead of the three-day summit that begins on Wednesday.
“China and Nigeria, as major developing countries, will strengthen strategic coordination, which will inject new impetus into China-Africa relations in the new era and lead common progress among countries in the Global South,” Xi said.
China's State Council said Tinubu expressed hope that Nigeria will become China's largest trade and investment partner in Africa.
The Nigerian leader also welcomed Chinese companies to increase investment in the country, expand cooperation in fields such as agriculture, manufacturing and mineral energy and assist poverty reduction efforts, according to the State Council.
In a statement released by his office, Tinubu said the partnership between the countries would result in “sound development, stability and security.”
“We have recognized the need to reform our economy and we are doing so diligently, through tax and tariff reviews and various other segments of our nation's economy,” Tinubu said.
“Trade and investment partners will have easy access to deposit and withdraw their investments without any problems.”
China has chosen Africa as a key region for its flagship global infrastructure initiative, the Belt and Road Initiative, and Chinese companies have signed contracts on the continent worth more than $700 billion over the decade to 2023, according to Beijing's Ministry of Commerce.
In Nigeria, China's state-run Export-Import Bank is financing 85 percent of the cost of the $5.8 billion Mambilla hydroelectric plant, which will be the country's largest power plant when completed in 2030.
