News
Nigeria and China have signed MoUs on the Belt and Road Initiative, nuclear energy, and other matters.
Nigeria and China have signed MoUs on the Belt and Road Initiative, nuclear energy, and other matters.
Nigeria and China have formalized multiple Memoranda of Understanding (MoUs) during President Bola Tinubu’s official engagement with Chinese President Xi Jinping in Beijing.
The agreements, executed on Tuesday, cover critical areas including the Belt and Road Initiative, nuclear energy collaboration, human resource development, and media exchange, all conducted in the presence of both leaders.
These MoUs were formalized in advance of President Tinubu’s forthcoming participation in the 2024 Summit of the Forum on China-Africa Cooperation, set to take place from September 4 to 6, 2024.
This information was communicated through a statement by Ajuri Ngelale, the presidential spokesperson.
“During the meeting, both presidents observed the signing of several Memoranda of Understanding (MoUs) focusing on various areas of mutual interest:
“Cooperation plan between Nigeria and China on the joint promotion of the Belt and Road Initiative
“Memorandum of Understanding on collaborative efforts in the peaceful application of Nuclear Energy
“Memorandum of Understanding on enhancing cooperation in Human Resource Development under the Global Development Initiative
“Memorandum of Understanding on Media Exchange and Cooperation
“Memorandum of Understanding between China Media Group and the Nigerian Television Authority,” a segment of the statement noted.
These agreements signify a substantial advancement in fortifying the strategic partnership between Nigeria and China, establishing a foundation for future collaboration across multiple sectors.
The statement elaborated on President Tinubu’s discussions in Beijing, where he addressed Nigeria’s economic potential and the nation’s ongoing reforms with President Xi Jinping.
President Tinubu underscored Nigeria’s status as the most populous country and largest economy in Africa, highlighting the potential of the youthful population to stimulate cross-sectoral growth and trade opportunities.
“Nigeria possesses considerable potential as the nation with Africa’s largest population and is the continent’s biggest economy, characterized by a youthful demographic that can drive economic growth and cross-sectoral initiatives,” President Tinubu asserted.
Additionally, he reaffirmed his administration’s dedication to continued economic reforms, drawing parallels to China’s successful strategies under President Xi.
“We acknowledge that President Xi has effectively reformed the Chinese economy, and our reform initiatives in Nigeria are aligned with that trajectory. I identify as a reformer with a demonstrable history,” Tinubu observed.
He further indicated that reforms encompassing tax and tariff adjustments would foster sustainable growth and enhance the environment for foreign investments.
In response, President Xi Jinping emphasized the robust diplomatic relations between China and Nigeria, which have endured for over five decades.
He remarked that as major developing nations, both countries aspire to bolster strategic coordination to invigorate China-Africa relations and support collective advancement among Global South nations.
Both leaders regard this partnership as pivotal to the comprehensive development of China-Africa relations. The approaching 2024 FOCAC Summit will act as a forum to reinforce these connections and strengthen the enduring friendship between the two nations.
