…Strengthen Ties with Comprehensive Strategic Partnership
Nigeria and China have reaffirmed their commitment to fostering a robust bilateral relationship, marked by increased economic cooperation, financial stability, and mutual support.
During President Tinubu’s official visit to China, the two nations signed a joint statement outlining their dedication to flexible regional monetary and financial cooperation, including local currency swaps, to facilitate trade and contribute to global financial stability.
The Central Bank of Nigeria and the People’s Bank of China had previously signed a bilateral currency swap agreement in 2018, worth approximately $2.4 billion. However, implementation has faced challenges due to trade imbalances between the two countries.
In addition to financial cooperation, Nigeria and China agreed to enhance international cooperation on financial intelligence, anti-money laundering, and countering the financing of terrorism. They also pledged to support each other’s efforts to maintain financial stability and crack down on financial crimes.
The two nations further committed to strengthening sub-national level cooperation, expanding friendly relations between provinces, states, and municipalities, and protecting the rights and interests of each other’s citizens.
President Tinubu’s visit to China marked a significant milestone in the bilateral relationship, with both nations agreeing to upgrade their relationship to a Comprehensive Strategic Partnership and build a High-level China-Nigeria Community with a shared future.
“Nigeria and China have embarked on a path of seeking strength through unity for win-win cooperation,” the joint statement read. “We reaffirm our firm support to each other on issues related to our respective core interests and major concerns, particularly sovereignty and territorial integrity.”
The Nigerian government reiterated its adherence to the one-China principle, acknowledging Taiwan as an inalienable part of China’s territory and opposing any form of “Taiwan Independence” or interference in China’s internal affairs.
The two presidents, Tinubu and Xi Jinping, agreed that their strengthened strategic cooperation would propel a new dynamic for China-Africa relations in the new era and lead the Global South to march together.
“We spoke highly of the leading roles played by FOCAC in advancing the quality of cooperation between China and Africa over the past 24 years”.
“We believe that the successful convening of the Beijing Summit of FOCAC opened a new chapter of unity and cooperation between China and Africa”, the statement added.
