President Bola Tinubu has called on the People’s Republic of China to increase the $2 billion currency swap between Nigeria and China to enhance trade between the two countries.
The President while receiving the Minister of Foreign Affairs of China, Wang Yi, at the State House, said increasing the level of currency swaps would wspeed up the infrastructural development in Nigeria and deepen the strategic bilateral relations.
Tinubu, in a statement issued Thursday by his Special Adviser on Information and Strategy, Bayo Onanuga also called for an upward review of the $50 billion aid package for Africa, which China’s President Xi Jinping announced last year.
He said: “We still demand more in the area of currency swap. 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. I am happy you are part of China’s highest decision-making body. We will want you to use your position to influence improved project funding.
“First, I say yes to the 50 billion dollar support, and thank you for contributing to African growth. The infrastructural needs of Africa are greater than that, and we want to move as rapidly as our other counterparts. All share your vision of rapid development. Africa values the relationship with China, and we seek deeper collaboration for infrastructural development.”
President Tinubu called on China to support Nigeria’s bid for a permanent United Nations Security Council seat.
“You are a member of the UN Security Council. We want you to use your influence to ensure Nigeria secures the seat.”
Yi thanked Tinubu for appointing a Director General and Global Liaison, Nigeria—China Strategic Partnership, to oversee the implementation of the MOUs for the rapid development of the Nigerian economy.
He said the Chinese Government would support including an African country in the UN Security Council, adding that “it was a historical injustice by the world that should be corrected”.
“We stand with Africa, and we will not support a country that invades another country,” he stated.