THE Chinese Government has stated that its bilateral trade with Nigeria reached 13.78 billion US dollars, with 30% year on year growth as it celebrates the 47th anniversary of the establishment of China Nigeria diplomatic relations.
In a Statement released, The Consul General Of China in Lagos, Chao Xiaoliang said that huge cooperative projects have been promoted due to the productive bilateral relationship between the two countries, impacting on politics, trade, infrastructure, IT, agriculture and so many others.
“Recent years witnessed tangible progress in China-Nigeria relations. China-Nigeria strategic partnership enjoyed comprehensive and rapid development.
The bilateral trade reached 13.78 billion US dollars with 30% year on year growth.
“Cooperation between the two countries is flourishing, especially in the fields of politics, trade, infrastructure development, IT, agriculture and culture.
“A large number of cooperative projects are vigorously promoted by both sides. By end of 2017, total investment from China to Nigeria reached 27 billion US dollars. TECNO, HUAWEI has become household names in Nigeria. Abuja-Kaduna Railway, constructed by China Civil and Engineering Construction Company brought convenience to travellers.
“People to people exchanges and cultural exchange programs are growing rapidly, the number of Nigerian oversea students who chose China as their favoured destination is increasing.
With more and more Chinese enterprises and citizens come to invest, work and live in Nigeria, we are pleased to see that quite a number of Chinese companies and organisations live in harmony with local communities.
They always bear in mind to repay the generosity Nigeria has given” He said.
Speaking on the importance of October Ist to the two countries, Xiaoliang, who narrated the mixed experiences of both countries before the attainment of independence, said It’s the day to mark the founding of the People’s Republic of China and the Independence of the Federal Republic of Nigeria.
“In 1960, British colonial rule ended and Nigeria transformed into an Independent sovereign state. In the past 48 years, Nigeria explored and experienced tribulations, it has not only recorded appreciable gains in political freedom but also in economic and social development.
“In 2014, Nigeria overtook South Africa and became the largest economy in Africa. Although Nigeria has gone through low oil price, currency depreciation and recession in recent years, the government and Nigerian people always stand together to overcome hardship.
“The federal government released the Economic Recovery and Growth Plan in 2017, and now Nigeria has exited recession, the Nigerian Government is working hard to implement President Buhari’s Agenda of Change, promoting the economic diversification and industrialisation.
“China has also gone through trials and tribulations over the past 69 years. Under the strong leadership of the Chinese Communist Party, Chinese people have made tremendous efforts to develop the country.
“The 19th National Congress of the Communist Party of China was successfully convened in 2017, giving shape to the thought on Socialism with Chinese Characteristics for a New Era, opened a new journey of developing China into a great modern socialist country.
“With the guidance of innovation, coordination, green, openness and sharing, and great efforts of the people and the government, China’s GDP grew by 6.9% in 2017 to more than 82 trillion yuan(12.25 trillion USD). In the first half of 2018, the Chinese economy has maintained a momentum of steady and sound growth with a year-on-year growth rate of 6.8%” The Consul explained.
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