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President Tinubu Calls For Increase In Currency Swap Between China And Nigeria At Meeting With Chinese Foreign Minister

 

By our reporter

President Bola Tinubu met with Chinese Foreign Minister Wang Yi in Abuja, Nigeria, to discuss strengthening bilateral relations between Nigeria and China. The President urged China to increase the $2 billion currency swap between the two countries to enhance trade and investment

Tinubu emphasized that the current amount is inadequate for Nigeria’s needs, and an increase would be greatly appreciated. He also called for a review of the $50 billion aid package China pledged to support Africa, stating that the continent’s infrastructural needs require more commitment

Additionally, President Tinubu requested China’s support for Nigeria’s bid for a permanent United Nations Security Council seat. He thanked President Xi Jinping for his warm reception during his visit to China last year and expressed Nigeria’s readiness to meet developmental goals and contribute to project funding

In response, Chinese Foreign Minister Wang Yi thanked President Tinubu for appointing a Director General to oversee the implementation of agreements between Nigeria and China. Yi stated that China would continue to support Nigeria in achieving its Renewed Hope Agenda, countering terrorism, and ensuring regional security. He also expressed support for including an African country in the UN Security Council and welcomed Nigeria’s potential membership in BRICS.

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