left corner left corner
China Daily Website

Nigeria signs finance deals in Beijing

Updated: 2013-07-11 01:08
By Li Xiaokun ( China Daily)

He Wenping, a researcher of African studies at the Chinese Academy of Social Sciences, said a reduction in the demand for oil on the part of the US is pushing Nigeria to strengthen ties with other major oil importers such as China.

Revenues generated from oil account for about 80 percent of Nigerian government revenues.

Nigeria's policy of economic development through infrastructure construction also urges the government to seek financial and technical support from China, said He from the CASS.

"Nigeria is among the most important countries in Africa, with vast influence," He added. "Development of China-Nigeria relations is beneficial to the two countries and is also meaningful to the regions."

He said that the ties are very promising. "China and Nigeria can greatly promote the cooperation in infrastructure construction and other areas. Nigeria is the first African country to include RMB in the foreign exchange reserves, which shows its recognition of the value of China's economy."

Reuben Abati, special media adviser to Jonathan, said shortly before the president left for China that "it is in our strategic national interest to have a very good relationship" with China.

"China has shown a lot of interest and support for the president's determination to diversify the nation's economy. So you find China supporting our agricultural program."

During his stay in China, Jonathan will also meet with Premier Li Keqiang and top legislator Zhang Dejiang, and will hold separate meetings with leaders of Chinese conglomerates such as Huawei, Sinopec and ZTE.

The president will also travel to Daqing in Northeast China's Heilongjiang province.

Zhang Fan, Xinhua and AFP contributed to this story.

Previous Page 1 2 Next Page

  • Group a building block for Africa

    An unusually heavy downpour hit Durban for two days before the BRICS summit's debut on African soil, but interest for a better platform for emerging markets were still sparked at the summit.