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China, Nigeria eye more fruitful results in bilateral ties

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China and Nigeria -- the world's largest developing country and Africa's most populous nation -- have seen another boom year in their ties, with more fruits of win-win cooperation expected in 2016.

Chinese President Xi Jinping (R) meets with Nigerian President Muhammadu Buhari in Johannesburg, South Africa on the sidelines of a China-Africa summit, Dec. 4, 2015. [Photo/Xinhua]

China is Africa's largest trading partner with trade volume hitting 220 billion U.S. dollars in 2014. Nigeria remains China's third largest trading partner in Africa.

But both countries have been affected by the sluggish world economy, with trade volume between them in the first 10 months last year standing at 12.33 billion dollars, 17.32 percent less than that of 2014.

Nigeria is China's third largest investment destination in Africa. In the first half of 2015, Chinese investment in Nigeria reached 36.62 million dollars.

Engineering contracts in Nigeria worth 4.36 billion dollars were signed between the two, while projects worth 1.58 billion dollars were completed.

The year 2016 marks the 45th anniversary of Nigerian-Chinese diplomatic relations and all indications point to a strong diplomatic and ever-growing economic partnership.

Bilateral trade has exponentially increased since the two countries established strategic relations 10 years ago.

The majority of Chinese companies in Nigeria are engineering companies. Much of Nigeria's population has benefited from infrastructure improvements created by the Chinese companies.

Major projects that are being built by Chinese and expected to dramatically improve Nigeria's transport system include the Abuja Light Rail, Abuja-Kaduna Railway, and Lagos Rail Mass Transit System.

No doubt that China remains a strategic and dependable partner in President Muhammadu Buhari administration's determination to change the direction and content of governance in Nigeria.

Buhari, who took office in May last, has promised to focus governance on the real needs of the vast majority of Nigerians.

At the Summit of the Forum on China-Africa Cooperation (FOCAC) held in Johannesburg, South Africa last month, he said China would always stand "shoulder-to-shoulder" with Nigeria in its quest to propel its people to prosperity.

Buhari expressed expectations on Chinese investment to boost Africa's growth.

"Africa expects Chinese investment flows to the real sector of our economies to promote African enterprises," he said.

At the summit, President Xi Jinping announced 10 major plans for China's cooperation with Africa in the next three years, backed by a package of 60 billion U.S. dollars including grants, interest-free loans and preferential loans.

Analysts say the Johannesburg Summit has clearly shown China aims to facilitate the long-term growth of other countries instead of allegedly snatching up local raw materials.

Animashahun Davids, a public affairs analyst, told Xinhua the establishment of the strategic partnership between China and Nigeria in 2005 had contributed immensely to improved relations.

He said the two countries were "a good and huge combination" that would benefit both sides.

"With the effort being made by both governments so far, China and Nigeria's strategic partnership will have a great development in the future," he said.

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