Business

China’s partnership with Nigeria driving industrialization – Deputy Speaker

The Deputy Speaker of the House of Representatives, Hon. Benjamin Okezie Kalu, has commended China’s diplomatic and trade relationships with Nigeria, emphasizing that the bilateral relationship promotes economic development in the country.

In a press release delivered yesterday by his Chief Press Secretary, Mr Levinus Nwabughiogu, Kalu expressed his goodwill message during China’s 74th National Day celebrations in Abuja.

He emphasized that the strong ties between both nations have accelerated Nigeria’s industrial progress. Projects like the Abuja-Kaduna Railway and the Zungeru Hydroelectric Power Project serve as enduring symbols of this fruitful collaboration.

The Deputy Speaker also noted that Chinese products have become a common presence in Nigerian homes, and Nigeria’s agricultural exports to China have seen steady growth.

According to Kalu, the symbiotic alliance has resulted in the creation of jobs, the expansion of local industries, and an overall increase in the welfare of the people.

He also noted that Nigeria currently occupies the position of being China’s third-largest trade partner in the African region.

Nevertheless, he called upon the government of the People’s Republic of China to collaborate with Nigeria in addressing and rectifying the factors that fuel xenophobic attacks on a global scale.

Nigeria’s trade relationship with China has maintained an upward trend in recent years.

According to a recent report posted on the official website of the Chinese Ministry of Foreign Affairs, the bilateral trade volume reached about $20 billion in 2022.

Currently, Nigeria is the third largest trading partner with China in Africa.