NIGERIA-CHINA ECONOMIC RELATIONS: MATTERS ARISING
Authors:
Osimen, Goddy Uwa & Micah, Ezekiel Elton Mike
Abstract:
Nigeria’s bilateral relation with China has been in place over a decade after Nigeria gained independence from the British realm. The Relationship has expanded both growing bilateral trade and strategic cooperation. It is within this basis that the Nigeria-China relations were examined focusing on the issues, challenges and prospects. A secondary method of data collection was employed for this study and the data were analysed qualitatively. The study revealed among others that Nigeria foreign trade policy has been inconsistent with economic relations with China. The paper also revealed unbalance of trade between the two nation-states; the term of trade between the two countries shows that Nigeria’s import is greater than her export hence; China has gained more than Nigeria in the long run especially in the area of oil exploration and exploitation. The unwillingness of the Chinese government to fulfil its part of an agreement to transfer technology to Nigeria was also revealed. The paper, therefore, concluded that since the relationship between Nigeria and China is asymmetrical and lopsided, it will be difficult for the Nigerian government to solve the country’s problem together with her national debt to China if measures are not put in place. Hence, it’s recommended that the Nigerian government should reform her system of trade towards China which will not only boost her technological advancement but her negotiation capacity to maximise more benefits in the country’s economic relation with China. Most importantly, the Nigerian government must adhere to her foreign trade policy in future dealings with China.