Nigeria’s Minister of Foreign Affairs, Yusuf Tuggar says the country is set to become the number one trading partner with the People’s Republic of China with over $23 billion in trade volume.
He made this known in Beijing, China after signing several Memorandum of Understanding on behalf of Nigeria with China on Infrastructure development and other areas of support for the Nigerian economy.
Tuggar revealed that the signed agreement signifies an upgrade of the relationship between Nigeria and China, thereby transiting from a strategic partnership to a more comprehensive collaboration.
‘They want to buy more of our finished products so they are very serious about Nigeria we are their second largest trading partner in Africa we are only behind South Africa.
‘Trade volume is about 23 billion dollars they want to do much more so Nigeria is to become the number one trading partner with China.’
He further disclosed that the Chinese government had indicated interest in investing more in Nigeria’s finished produ
cts and infrastructure which would lead to job creation and stimulate the local economy.
According to the Minister, Huawei is proposing to build two major technology data storage centres in Nigeria, a place he said would create job employment and opportunities for young people in Nigeria.
Tuggar also made known that Nigeria has concluded arrangements to leverage electricity supply opportunities, stressing that this would inject more power into the National grid as well as stabilize electricity supply in the country.
‘Well, all of this takes us to the upgrade that we’ve been talking about that President Xi Jinping asked for since last year.
‘It takes us to the upgrade of the relationship with Nigeria from a strategic one to a comprehensive strategic partnership and that’s what we have, so all the sectors, they want to invest more in Nigeria, they want to invest more in our infrastructure which would create jobs and leave a lot of potential stimulate the local economy we also want the people to people conta
cts, cultural exchanges they want support with training they say they want to buy more from us this is why we’re talking about shell peanut.’ The Minister added.
MoUs
The Minister of Foreign Affairs disclosed further that fifteen MOUs were jointly proposed to be signed but so far only a few have been endorsed in the areas of communication, infrastructure and others that are developmental.
Additionally, Tuggar stated that Nigeria would also sign an agreement on nuclear energy thereby empowering nuclear technology and stabilizing electricity in the country.
‘Yes that is that is one also that is to be signed the head of the National Atomic Energy Commission is here, he is on the ground so is either going to sign or I will sign on his behalf that would mean electricity that would mean badges with nuclear energy that will be supplying the grid and so many of them so it will help to stabilize electricity in Nigeria and of course the technology itself nuclear technology or atomic.
‘Depending on how you look at
it whether it’s vision nuclear fusion it’s something that we need to learn we need to harness because it has so many applications apart from electricity a lot of institutions are already doing research on this in Nigeria so also used in medicine radiology.’ The Minister added.
Enhancing AFCFTA
Tuggar further made known that both countries have also signed an MOU on the export of shelled peanuts and considerable areas of communication to enhance the African Continent of Free Trade Area.
‘And then on the continent African continent of the free trade area and you will be happy to know that I signed one on behalf of the Nigerian Television Authority because the minister of information is in Indonesia so I stepped in to sign a very important agreement for collaboration between NTA and the Chinese news network.
‘There’s another I assigned three to do with communication and there is also digital communications we expect more to be signed or be it not in front of the two leaders the agreements on the shelled pean
ut that is groundnut that is still in the shell for export’.
According to the Minister of Foreign Affairs, the Governor of Lagos State, Babajide Sanwoolu and Kaduna State Governor, Sani Uba have signed an MoU on construction with the China Construction and Engineering Company for a bridge construction amongst others.
‘Already two state Governors Lagos and Kaduna have signed agreements, Kaduna signed at Huawei when Mr President visited Huawei, Huawei is proposing to build two major centres for data storage for technology in Nigeria which will provide a lot of employment and opportunities for young people in Nigeria
‘The governor of Lagos State signed a construction Bridge Construction agreement when Mr President visited CCCC China Construction and Engineering Company so this is a company that has been doing a lot in Nigeria CCCC in Abuja built a games Village they’ve done a lot of construction work they build the national communications commission the building that house system and several other projects al
l across.’ He added.
He added that the five focal infrastructure developmental agreements signed between Nigeria and China support the Nigerian economy and are seen as China’s approach to connecting economies through rail, road, electricity lines and fibre optic cables.
These, the Minister stressed would enhance trade and facilitate easy movement of goods and services.
Source: Voice of Nigeria