One of the major sources of foreign direct investment in Nigeria lately, the People’s Republic of China has been a major participant in several new sectors of the economy like telecommunications and housing. China and Nigeria first established diplomatic relations in 1971 and to commemorate this, Beijing plans to expand its investment further.
Qin Jian, the Chinese chargé d’affaires of China's embassy in Nigeria, described economic cooperation between both countries as fruitful. He added that China was willing to integrate its development with independent and sustainable development in Nigeria and other African countries to achieve common development.
According to Mr Qin, at the successful and historic second edition of the Forum on China-Africa Cooperation Summit held in Johannesburg, South Africa, Chinese President Xi Jinping proposed five major pillars for China-Africa relations. He added that China and Africa should seek equality and mutual trust in politics, cooperation in economy, mutual learning in civilisation, mutual assistance in security and unity and coordination in international affairs.
Mr Qin said: “China’s 10 key cooperation plans with Africa in the fields of industrialisation, agriculture modernisation, infrastructure, etc, will serve as an all-around blueprint in a period to come and symbolise that China-Africa relations will take a big stride and enter a new era. To fulfil the 10 plans, China has pledged $60bn in development funding to Africa.
"When carrying out cooperation with Africa, China sticks to the principle of four no's and three priorities. These include attaching no political conditions, interfering in no African country’s internal affairs, raising no demanding requirements and making no empty promises.”
Among the listed priorities were the improvement of African people’s livelihood and enhancement of Africa’s capacity for independent development. Of late, China has entered into numerous infrastructural bilateral agreements with several African countries.
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