President Tinubu Signs Five Critical MOU With President Xi Jinping Of China

President Bola Tinubu and Chinese President Xi Jinping, on Tuesday in Beijing, China, announced the elevation of Nigeria-China ties to that of a comprehensive strategic partnership.

The leaders also agreed to build a high-level Nigeria-China community with a shared future.

This was the outcome of talks between the two leaders during President Tinubu’s official visit to China.

President Tinubu’s official visit precedes his participation in the 2024 Summit of the Forum on China-Africa Cooperation, scheduled to hold from September 4-6, 2024.

”This is an important visit for Nigeria and the rest of Africa, as I arrive in my capacity as the Chairman of ECOWAS. I thank you for the high-level of honour accorded to us.

”Relations between China and Nigeria have indeed lasted for over half a century and should be further strengthened to advance our trade and economic development programmes.

”Nigeria holds great potential as the country with the largest population in Africa and is the biggest economy with a very young population that can drive economic growth and cross-sectoral programmes.

”We have upgraded the relationship to more than what is just strategic — but a comprehensive developmental partnership.

”This comprehensive strategic partnership should result in robust development, stability, and security in the West African sub-region. This is very crucial,” President Tinubu said.

On economic reforms in Nigeria, President Tinubu told his Chinese counterpart that his administration remains committed to sustainable growth through the effective implementation of ongoing economic reforms.

”We believe that President Xi has demonstrably reformed the Chinese economy, and our reform programme in Nigeria is on a similar course. I am a reformer with verifiable antecedents.

”We have recognized the need to reform our economy, and we are doing so diligently across tax and tariff reviews, to various other segments of our nation’s economy.

”Trading and investment partners will have easy access to bring in their investments and seamlessly take their resources out,” the President stated.

In his remarks, President Xi noted the strong mutual understanding between Nigeria and China since the establishment of diplomatic ties over the past 50 years.

”We have found the path of seeking collective strength, through unity, and win-win cooperation.

”China and Nigeria, as major developing countries, strengthening strategic coordination, will inject fresh impetus to China-Africa relations in the new era and spearhead common progress among Global South countries,” President Xi said.

According to the Chinese leader, the 2024 FOCAC Summit provides an opportunity to reflect on mutual friendships and advance the consolidation of China-Africa relations.

He pledged that China and Nigeria would continue to work closely within the FOCAC framework as a model of cooperation between nations.

During the meeting, both presidents witnessed the signing of several Memoranda of Understanding (MOUs) on various areas of mutual interest:

(1) Cooperation plan between Nigeria and China on jointly promoting the Belt and Road Initiative

(2) Memorandum of Understanding on cooperation in the peaceful application of Nuclear Energy

(3) Memorandum of Understanding on strengthening cooperation on Human Resource Development under the Global Development Initiative

(4) Memorandum of Understanding on Media Exchange and Cooperation

(5) Memorandum of Understanding between China Media Group and the Nigerian Television Authority