At the inaugural China-Nigeria Economic Cooperation and Trade Conference, held in conjunction with the 2024 Forum on China-Africa Cooperation (FOCAC), Nigeria and China have reaffirmed their commitment to deepening economic ties and enhancing bilateral cooperation. The event was chaired by Nigeria’s Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun.
In his keynote address, Mr. Edun highlighted the crucial role of South-South cooperation in Nigeria’s sustainable development goals. His leadership during the conference steered discussions toward key areas of collaboration between the two nations.
Mr. Edun emphasized President Tinubu’s commitment to creating a business-friendly environment to attract more investment, particularly in infrastructure, energy, and industry. A major highlight of the conference was the signing of a $3.3 billion agreement to develop the Brass Industrial Park and Methanol Complex. This project is expected to significantly enhance Nigeria’s industrial output and create substantial employment opportunities.
Infrastructure development was a focal point of the discussions, with both nations vowing to advance joint projects, including roads, bridges, and energy systems, to accelerate Nigeria’s industrialization and promote long-term economic growth.
The conference also addressed financial and security cooperation, with agreements to improve intelligence sharing to combat money laundering and financial crimes, aiming to create a secure and transparent financial environment.
Mr. Edun underscored President Tinubu’s bold economic reforms, which aim to guide Nigeria toward sustainable growth. He emphasized the importance of leveraging both domestic resources and international partnerships, such as with China, to ensure these collaborations benefit the Nigerian people.
The conference concluded with a strong mutual commitment to continued engagement, open dialogue, and reinforced cooperation. The infrastructure and security initiatives discussed are seen as essential to achieving Nigeria’s economic goals under the Renewed Hope Agenda and advancing China’s Belt and Road Initiative.