The Minister of Finance and the Coordinating Minister of the Economy, Wale Edun, has stated that President Bola Tinubu and Chinese President Xi Jinping reached agreements across various sectors during Tinubu’s state visit to China.
Edun highlighted that the agreements focused on infrastructural development, particularly in roads, rail, and seaports.
Speaking to Channels Television from China, Edun emphasized the broad scope of cooperation between the two nations, covering political, economic, and socio-cultural aspects.
He noted that both leaders committed to aligning their positions in multilateral organizations like the United Nations.
In the economic and financial domain, several agreements were made concerning infrastructure development.
Edun pointed out that while many often focus on borrowing and lending, the discussions also emphasized foreign direct investment (FDI) from China to Nigeria.
He cited the Lekki port as an example of Chinese FDI, where a Chinese company invested in the construction and financing of the port on an equity basis.
Edun stressed that Nigeria needs to encourage more equity financing from both domestic and foreign investors.