China and Nigeria Strengthen Ties in Energy, Technology, and Trade

China vowed to support powerful companies investing in Nigeria and working on its energy and mineral resources. The nations agreed on monetary cooperation, military technology, and combating financial crimes. Key collaborations include China's Belt and Road Initiative, e-commerce, and infrastructure projects like ports and railways.

China has pledged to encourage its top companies to invest in Nigeria, aiming to bolster the West African nation's energy and mineral sectors. Nigeria, receptive to these investments, seeks to diversify and strengthen its economy with Chinese support.

After a meeting in Beijing between President Xi Jinping and Nigerian President Bola Tinubu, both countries announced their commitment to enhancing bilateral trade through local currency swaps and monetary cooperation. They also plan to cooperate on military technology and combating financial crimes to ensure regional stability.

The Belt and Road Initiative has already facilitated significant infrastructure projects in Nigeria, including a deep-sea port and rail lines. China remains Nigeria's largest bilateral lender, and future plans include a solar PV test lab and an assembly plant for electric tricycles, further cementing collaboration in technology and renewable energy.

(With inputs from agencies.)