BREAKING: Tinubu Makes Fresh Demand From China, Details Emerge

President Bola Tinubu has urged the Chinese government to increase the existing $2 billion currency swap agreement between Nigeria and China.

This call was made during a meeting with the Chinese Foreign Minister, Wang Yi, at the State House in Abuja. President Tinubu emphasized that the current level of currency swaps is inadequate, considering Nigeria’s development programs and that an increase would be “well appreciated”.

The President also sought an upward review of the $50 billion aid package for Africa, announced by Chinese President Xi Jinping last year. He noted that Africa’s infrastructural needs require more commitment and urged China to use its influence to support Nigeria’s bid for a permanent United Nations Security Council seat.

Tinubu thanks Chinese government for supporting Africa

According to a statement from the presidency, President Tinubu expressed gratitude for China’s support for Africa’s growth and development, highlighting the importance of deeper collaboration for infrastructural development. He also commended China’s rapid reaction to the earthquake in Tibet and expressed sympathy for the victims.

In response, Chinese Foreign Minister Wang Yi thanked President Tinubu for appointing a Director General and Global Liaison to oversee the implementation of Memoranda of Understanding (MOUs) for Nigeria-China relations. Yi stated that China stands with Africa and will not support countries that invade others.

China also expressed willingness to welcome Nigeria’s membership in the BRICS (Brazil, Russia, India, China, and South Africa) and participate in the global development mechanism. The meeting between President Tinubu and Foreign Minister Wang Yi underscores the growing importance of Nigeria-China relations and the potential for increased cooperation in areas such as trade, investment, and infrastructure development.

See the full statement here:

Chinese foreign minister to visit Nigeria

Legit.ng earlier reported that Chinese Foreign Minister Wang Yi will be visiting Nigeria and three other African countries from Sunday, January 5 to Saturday, January 11.

The development was part of China’s efforts to strengthen relationships with African countries, and it would be the minister’s first overseas trip of the year. Other African countries Wang Yi will be visiting during the trips are Namibia, the Republic of the Congo, and Chad.

Chinese President Xi Jinping’s proposals at the Beijing Summit of the Forum on China-Africa Cooperation last year emphasized upgrading bilateral relations between China and African countries with diplomatic ties to strategic relations. He also suggested elevating China-Africa relations to an “all-weather community with a shared future” for the new era. The African side responded positively to these proposals, indicating a willingness to deepen cooperation with China.