FOCAC 2024: Nigeria and China Elevate Bilateral Ties, Strengthen Economic Cooperation

…Upgrade bilateral relationship with Nigeria, peanut exports to China

…Sign key agreements to propel development across Africa

Nigeria and China have upgraded their relationship to a comprehensive strategic partnership, aiming to build a high-level China-Nigeria community with a shared future.

This development was formalised during the 2024 Summit of the Forum on China-Africa Cooperation (FOCAC) held in Beijing from September 4th to 6th, where renewed cooperation agreements were signed to enhance their bilateral ties.

President Bola Tinubu of Nigeria attended the summit alongside 51 other African heads of state and representatives, as well as leaders from the African Union and the United Nations.

The summit adopted two key documents: the “Beijing Declaration on Jointly Building an All-Weather China-Africa Community with a Shared Future for the New Era” and the “Forum on China-Africa Cooperation Beijing Action Plan (2025-2027)”.

China and Nigeria are enhancing their strategic collaboration in key sectors such as infrastructure, energy, agriculture, and the digital economy.

China has pledged to support Nigeria’s infrastructure development, while both nations aim to boost trade and investment, with Nigeria aspiring to become China’s largest African trade partner.

This development follows the signing of the “Cooperation Plan on Jointly Promoting the Belt and Road Initiative” during the Beijing Summit.

In his keynote speech, Chinese President Xi Jinping emphasized the elevation of China-Africa relations to strategic levels, promoting an all-weather community with a shared future.

Before the summit, President Xi and Nigerian President Bola Tinubu held discussions, agreeing to upgrade their relationship to a comprehensive strategic partnership.

The partnership aims to foster stability and development, with China supporting Nigeria in various initiatives, including the Mambilla hydroelectric project and the establishment of an electric tricycle assembly facility

Following their talks, Presidents Xi Jinping and Bola Tinubu witnessed the signing of several bilateral agreements, including the “Cooperation Plan on Jointly Promoting the Belt and Road Initiative,” and documents related to economic development, the Global Development Initiative, and the application of the BeiDou Navigation Satellite System. They also agreed on peanut exports to China and collaboration in news media.

The leaders issued a “Joint Statement on Establishing a Comprehensive Strategic Partnership and Building a High-Level China-Nigeria Community with a Shared Future,” highlighting that their enhanced strategic cooperation will invigorate China-Africa relations and support the Global South’s progress.

Reflecting on past achievements, China noted that since the first FOCAC Ministerial Conference in 2000, China-Africa relations have evolved from a “new type of partnership” to a “comprehensive strategic and cooperative partnership” over 24 years, marked by increased high-level interactions and deepened political trust.

This cooperation has yielded significant results. China-Africa trade volume surged from $10.5 billion in 2000 to $282 billion in 2023, marking a nearly 26-fold increase.

Chinese direct investment in Africa has expanded from less than $500 million to over $40 billion. Infrastructure projects have flourished, with nearly 100,000 kilometers of highways, over 10,000 kilometers of railways, and numerous bridges and ports constructed or upgraded.

China and Africa’s joint pursuit of modernization is a key goal, emphasizing that modernization need not equate to Westernisation.

Both regions are exploring development paths that suit their unique conditions, aiming to foster a new wave of modernisation in the Global South and strengthen ties through initiatives like the Belt and Road and Agenda 2063.

China’s partnership with Africa is aimed at inspiring independent development paths and achieving “African modernisation.”

At the Beijing Summit, President Xi Jinping announced that China and Africa should jointly pursue “six characteristics of modernisation.” He emphasized that China has consistently supported Africa on its modernization journey.

The Joint Statement between China and Nigeria outlines four key cooperation areas: building strategic mutual trust, enhancing development cooperation, strengthening security assistance, and promoting mutual learning. These areas are crucial for collaboration and development between the two nations.

Among the ten partnership actions to be implemented are initiatives in security, vocational training, and healthcare. Plans include establishing a hospital alliance, sending 2,000 medical personnel to Africa, and launching health facilities and malaria treatment programs.

China also aims to encourage investment in Africa’s pharmaceutical production and support the Africa Centers for Disease Control and Prevention.

President Xi highlighted that modernisation is a shared dream and that China’s path to modernisation demonstrates that countries can explore development paths suited to their own conditions, challenging the notion that modernisation equates to Westernisation.

The Chinese government also promised to provide RMB 360 billion yuan (nearly $51 billion) of financial support through the next three years.

This breaks down into RMB210 billion yuan of credit lines, RMB80 billion yuan of assistance in various forms, and at least RMB 70 billion yuan (nearly $10 billion) of investment in Africa by Chinese companies.

In addition, China will encourage and support Africa in issuing panda bonds in China to enhance our results-oriented cooperation in all areas.

During the Beijing summit, China and Nigeria jointly signed the Cooperation Plan, expressing commitment to advancing high-level cooperation of the Belt and Road Initiative and FOCAC Conference outcomes with the Renewed Hope Agenda.

This plan also aligns with the Eight Priority Agenda of the Nigerian government to jointly promote high-level practical cooperation across the board, focusing on key areas including infrastructure, trade and investment, industrial development, digital economy, green development, energy resources, finance, science and technology, agricultural cooperation, culture and tourism, healthcare, education and talent development, and cultural exchanges.