– Seeks support for UN Security Seat
Mkpoikana Udoma
Port Harcourt — President Bola Tinubu has called on China to increase the $2 billion currency swap agreement with Nigeria, emphasizing its importance in enhancing trade and driving infrastructural development.
The President also sought China’s support for Nigeria’s bid for a permanent seat on the United Nations Security Council.
Speaking during a meeting with Chinese Foreign Minister Wang Yi at the State House in Abuja, Tinubu described the current currency swap arrangement as inadequate for Nigeria’s developmental goals.
“We still demand more in the area of currency swap. The level you have approved as a government for Nigeria is inadequate considering our programme. If you can increase that, it will be well appreciated. Our bond should grow stronger and become unbreakable,” Tinubu said.
The President also urged an upward review of the $50 billion aid package announced by Chinese President Xi Jinping last year, stating that Africa’s infrastructure demands require more robust support.
“I say yes to the 50 billion dollar support, and thank you for contributing to African growth. The infrastructural needs of Africa are greater than that, and we want to move as rapidly as our other counterparts. Africa values the relationship with China, and we seek deeper collaboration for infrastructural development,” Tinubu said.
Tinubu further called on China to back Nigeria’s bid for a permanent United Nations Security Council seat, stating, “You are a member of the UN Security Council. We want you to use your influence to ensure Nigeria secures the seat.”
He also highlighted progress made in Nigeria-China relations since his visit to China last year, where several agreements were signed. Tinubu reaffirmed Nigeria’s readiness to meet its commitments, including counterpart project funding.
“We are ready to move and reach the various developmental goals. My visit during FOCAC was a good experience. We signed several comprehensive MOUs during the visit and planned several programmes of action,” he said.
In response, Wang Yi praised President Tinubu’s leadership and assured him of China’s continued support for Nigeria’s Renewed Hope Agenda, counterterrorism efforts, and regional security.
The Chinese foreign minister added that his government would welcome Nigeria’s membership in BRICS and further collaboration in global development mechanisms.
“We will continue to support Nigeria in achieving the Renewed Hope Agenda, countering terrorism, and ensuring regional security,” Wang said, adding that the Chinese National Development Bank had already begun funding some development projects in Nigeria.
The Chinese minister also expressed China’s support for Africa’s inclusion in the UN Security Council, describing the current exclusion as a “historical injustice by the world that should be corrected.”
