Financial Implications Of China In Nigeria

Economics
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Introduction

The bilateral relations between the Peoples Republic of China and the Federal Republic of Nigeria have expanded on strategic cooperation and the growing bilateral trade. China is viewed as one of the closest partners of Nigeria. China is also an important trading and export partner of Nigeria. A 2014 BBC World service poll indicated that 85% of Nigerians takes China influence positively, and only 10% held a negative view. This makes Nigeria one of the most pro-Chinese nations Worldwide. (Hanauer & Morris  P 54)

On February 10, 1971, formal diplomatic relations were established between Nigeria and the People Republic of China. This relationship grew closer following the western condemnation and the international isolation of Nigeria military regimes (1970s-1998). Nigeria, therefore, became a useful source of petroleum and oil for the rapidly growing economy of China. China, on the other hand, provided extensive military-political and economic support to Nigeria. In 2004 and 2006 Hu Jintao, the President of China visited Nigeria and addressed a joint session of Nigeria's national assembly. A memorandum of understanding was signed by both nations on the establishment of a strategic partnership. China has greatly supported Nigeria's effort for a sit in the U.N Security Council.

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GradShark (2023). Financial Implications Of China In Nigeria. GradShark. https://gradshark.com/example/financial-implications-of-china-in-nigeria

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