Nigeria to deepen economic relations with China – Bagudu 

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Minister of Budget and Economic Planning, Abubakar Bagudu, has affirmed Nigeria’s ongoing commitment to strengthening its economic ties with China.

The minister said this message during a meeting on Tuesday, where he received a delegation from the China-Africa Economic and Trade Promotion Council at his office in Abuja.

Bagudu emphasized the mutual benefits that both nations can derive from each other, particularly in critical infrastructure development.

Led by Li Zhensheng, the Council seized the opportunity to explore potential areas of collaboration between China and Nigeria.

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Zhensheng expressed optimism about the future of China-Nigeria relations and pledged to collaborate for shared growth and development.

He appreciated the chance to discuss cooperation with Nigeria and stressed the significance of exchanges to enhance economic ties between the two countries.

Zhensheng outlined five key areas of potential collaboration, including infrastructure, agriculture, industry, service industry/trading services, and upgrading Nigeria’s energy sector.

He also noted Nigeria’s infrastructure challenges and highlighted China’s extensive experience in reform and opening up, which could offer valuable insights to Nigeria.

Zhensheng proposed Nigeria’s inclusion in the comprehensive development plan being developed by the Chinese government and the African Union for railway and road construction across the continent.

In response, Minister Bagudu expressed gratitude for the visit and acknowledged the esteem in which Nigerians hold China.

He stressed the potential for mutual learning and growth through collaboration, especially in sectors like agriculture and infrastructure development.

Bagudu expressed interest in establishing ties with counterparts in China and welcomed the offer of industrial parks from the council.

He assured the Council of the Ministry’s commitment to fostering the partnership and pledged to share the outcomes of the visit with other state commissioners of budget and economic planning.

Bagudu reiterated that the discussed areas of cooperation signal a promising future for China-Nigeria relations and underscored the commitment to joint progress and development.