Follow Us on Google
From Adanna Nnamani, Abuja
Vice President, Kashim Shettima has reiterated Nigeria’s commitment to strengthening economic ties with China, aiming for wider prosperity through strategic international partnerships.
Shettima made the remark at the inaugural China-Africa Interbank Association (CAIBA) Forum in Abuja on Tuesday.
Represented by Mr. Aliyu Modibbo, Special Adviser to President Bola Tinubu on General Duties, Shettima emphasised the nation’s determination to accelerate development through partnerships with global allies, particularly China.
The forum, organised by FirstBank Nigeria in collaboration with the China Development Bank (CDB), carried the theme: “Joining Hands to Advance Modernisation and Strengthening China-Africa Trade, Industrialisation, and Economic Diversification.” The event served as a key platform for discussions on enhancing financial cooperation and trade between China and African nations.
In his address, Shettima spoke about Africa’s ongoing renaissance, stressing the importance of collaboration in driving economic diversification and industrialisation across the continent.
“The theme of this event reflects President Tinubu’s priorities, strengthening institutional trust, boosting trade, fostering commerce, and diversifying the African economy through mutually beneficial partnerships,” he affirmed.
He also acknowledged the positive influence of foreign investments, particularly from China and other global partners, on Nigeria’s economic progress.
Wang Weidong, Vice President of the China Development Bank (CDB), also spoke at the forum, commending the fruitful collaboration between China and African nations. He highlighted the remarkable progress achieved under China’s Belt and Road Initiative and the Forum on China-Africa Cooperation.
Weidong elaborated on CDB’s efforts in promoting trade, industrialization, and economic diversification within Africa. “CDB has supported significant infrastructure projects, such as Nigeria’s Lake Tiga Port, Kenya’s Nairobi Expressway, and Uganda’s Astonishing Power Ports, all of which have enhanced regional connectivity and contributed to economic growth,” he shared.
He further emphasised the impact of the bank’s special loan programs for African small and medium-sized enterprises (SMEs), which have created over 270,000 local jobs. Additionally, CDB’s partnerships with global manufacturers have accelerated Africa’s industrialization and supply chain integration, reinforcing the continent’s economic development.
On his part, FirstBank’s Chief Executive Officer, Mr. Olusegun Alebiosu, emphasised the bank’s commitment to fostering China-Africa relations.
“The CAIBA platform reflects the growing trade and investment ties between China and Africa,” Alebiosu noted.
He added that the bank has established dedicated Chinese Desks and expanded its presence in key Chinese commercial hubs to better support these collaborations.
He called for innovative solutions to reduce barriers to trade and investment between Africa and China. “With the right support from stakeholders, government institutions, multilateral bodies, and private sector players, China-Africa relations can drive socio-economic transformation on a much larger scale,” he said.
