President Bola Tinubu has called on the Chinese government to increase the $2 billion currency swap agreement between Nigeria and China.
The swap, recently renewed at 15 billion yuan (approximately $2 billion), aims to bolster trade and investment between the two nations. Tinubu emphasized that an upward adjustment would expedite Nigeria’s infrastructural development and strengthen the strategic partnership between the two countries.
Speaking at the State House in Abuja during a meeting with China’s Minister of Foreign Affairs, Wang Yi, Tinubu stated, “The level you have approved as a government for Nigeria is inadequate considering our programme. If you can increase that, it will be well appreciated. Our bond should grow stronger and become unbreakable.” 
Related Read; Zambia’s Samuel Maimbo Announces Bid for African Development Bank Presidency
Tinubu Requests a Review of China’s $50 Billion African Aid Package
The Nigerian leader also appealed for an upward review of China’s $50 billion aid package for Africa, announced by President Xi Jinping last year. Tinubu highlighted Africa’s urgent infrastructural needs, urging China to provide additional project funding to match the continent’s developmental aspirations.
“I say yes to the $50 billion support and thank you for contributing to African growth,” Tinubu remarked. “However, the infrastructural needs of Africa are greater than that, and we want to move as rapidly as our other counterparts.”
Nigeria Seeks Permanent UN Security Council Seat with China’s Support
President Tinubu urged China to back Nigeria’s bid for a permanent seat on the United Nations Security Council. He thanked President Xi Jinping for his hospitality during his recent visit to China and reiterated Nigeria’s commitment to meeting developmental goals and honoring counterpart funding agreements for various projects.
“My visit during FOCAC was a good experience. We signed several comprehensive MOUs and action programmes,” Tinubu added. He also expressed sympathy for the victims of the recent earthquake in Tibet, commending China’s swift response to the disaster.
China Pledges Continued Support for Nigeria’s Development Goals
Wang Yi praised Tinubu’s leadership and reaffirmed China’s commitment to supporting Nigeria’s “Renewed Hope Agenda” and counterterrorism efforts. He also welcomed Nigeria’s potential membership in BRICS and emphasized the importance of correcting the historical injustice of excluding African nations from the UN Security Council.
“China will continue to support Nigeria in achieving its economic and security goals,” Wang Yi stated, highlighting the role of the Chinese National Development Bank in funding key Nigerian projects.
In addition, the foreign minister lauded Nigeria’s growing global influence under Tinubu’s leadership, predicting greater achievements for the nation in the coming years.
Read More:
