Nigeria and China Sign MoUs on the Belt and Road Initiative, Nuclear Energy, and Others

Nigeria and China signed some Memoranda of Understanding (MoUs) during President Bola Tinubu’s official visit to Chinese President Xi Jinping in Beijing.

The leaders witnessed the signing of the agreements on Tuesday, which span topics like media exchange, nuclear energy cooperation, human resource development, and the Belt and Road Initiative.

These Memorandums of Understanding were signed before President Tinubu attended the Forum on China-Africa Cooperation’s 2024 Summit, which is set for September 4-6, 2024.

The presidential spokesperson, Ajuri Ngelale, made this disclosure in a statement.

“During the meeting, both presidents witnessed the signing of several Memoranda of Understanding (MOUs) on various areas of mutual interest: 

“Cooperation plan between Nigeria and China on jointly promoting the Belt and Road Initiative 

“Memorandum of Understanding on cooperation in the peaceful application of Nuclear Energy of Understanding on strengthening cooperation on Human Resource Development under the Global Development Initiative 

“Memorandum of Understanding on Media Exchange and Cooperation 

“Memorandum of Understanding between China Media Group and the Nigerian Television Authority,” the statement read in part.

These agreements create the foundation for future cooperation between Nigeria and China in several sectors and represent a major step in bolstering their strategic partnership.

Further insights

Additional information about President Tinubu’s visit to Beijing, where he spoke with President Xi Jinping about Nigeria’s economic potential and ongoing reforms, was released in the announcement.

Nigeria, with the largest population and economy in Africa, has significant economic potential, as President Tinubu noted. He underlined that Nigeria’s young population might spur commerce and cross-sectoral growth.

President Tinubu stated, “Nigeria holds great potential as the largest economy in Africa and the country with the youngest population, which can drive economic growth and cross-sectoral programs.” 

 In addition, he reaffirmed the administration’s commitment to continuing economic reforms, following President Xi’s successful model in China.

“We believe President Xi has demonstrably transformed the Chinese economy, and our reform effort in Nigeria is following suit. I am a reformer with verifiable antecedents,” Tinubu said.

He added that measures would encourage sustainable growth and improve the climate for foreign investment, including changes to taxes and tariffs.

President Xi Jinping, for his part, stressed the solid diplomatic relations that China and Nigeria have enjoyed for more than 50 years.

He pointed out that both of these countries—being significant emerging nations—aspire to improve strategic cooperation, which will stimulate relations between China and Africa and promote the region’s collective advancement.

Both leaders regard this alliance as a means of furthering the general advancement of relations between China and Africa. The 2024 FOCAC Summit will provide an opportunity to deepen these ties and cement the enduring relationship between the two countries.