The Director of the Institute of Nigeria-China Development Studies, University of Lagos (INCDS-UNILAG), Professor Olufemi Saibu has posited that decreased trade rivalry between China and Nigeria has led to increased trade integration cooperation, and exports from both countries.
He made that observation during the monthly seminar series of the Institute of Nigeria-China Development Studies, which was held on Thursday, May 23, 2024, at the Boardroom I of the Faculty of Social Sciences.
The lecture, which drew a packed audience of academics, policymakers, industry stakeholders, and postgraduate students, sparked a lively discussion with participants engaging in a robust Question-and-Answer session and sharing their insights on the future of Nigeria-China relations.
Delivering the seminar presentation titled ” Nigeria-China Relationship: Symbiotic or Non-Symbiotic Relationship “, Professor Saibu unpacked the complex and multi-faceted economic landscape of the two countries despite concerns about the asymmetry nature of the partnership.
He noted that despite these concerns, there has been significant growth in trade between both countries, with China becoming Nigeria’s largest trading partner.
According to him, “both countries’ exports complement each other globally and they are significant bilateral trading partners. For instance, China’s infrastructure model in relation to assisting Nigeria, particularly in technology transfer, will ultimately enhance Nigeria’s industrial capacity just as our fuel and raw materials to the Asian powerhouse are also a significant investment into the world’s most populous nation”.
The INCDS Director also examined the dynamics of the Nigeria-China relationship, exploring the historical context, economic ties, and political cooperation between the two nations. He argued that the relationship has been largely beneficial; albeit China’s growing global influence has implications for Nigeria’s foreign policy and international relations.
His words: “The relationship is symbiotic in the sense that both countries have benefited from each other, but it is also non-symbiotic in the sense that China has largely dominated the relationship, with Nigeria often playing a subordinate role.”
Professor Saibu brought to the front-burner the need to prioritise mutuality and ensure that the partnership benefits both nations equally. He highlighted the need for Nigeria to re-balance the relationship, leveraging its natural resources and human capital to negotiate more favourable terms and drive sustainable development.
The Institute of Nigeria-China Development Studies, University of Lagos (INCDS-UNILAG) was established in 2018 to promote research, policy analysis, and dialogue on Nigeria-China relations, as well as foster greater understanding and cooperation between the two nations.
Its seminar series is a valuable platform for experts and stakeholders to share knowledge and ideas aimed at shaping the trajectory of Nigeria-China relations for the benefit of both nations.
Report: Bayo Salau
Photographs: Samuel Olaifa Dosunmu
