Nigeria Seeks Better Deal From China

China Nigeria

Benue State Deputy Governor Benson Abounu  has said Nigeria wants a better business relationship with China.

Speaking during the 45th anniversary of the diplomatic relations between Nigeria and China in Abuja, he said Nigeria was interested in the Chinese helping the economy.

He said: “We are interested in getting together with China to give us the technology. Nigeria is a very fertile ground for investment. Nigeria is not interested in memorandum of understanding. We have had series of memorandum of understanding, and they are piled up.

“What Nigeria is looking for is a memorandum of understanding for action for us to establish joint venture companies with China, especially in areas where we have comparative advantage.

“Nigeria is diversifying, in just a space of 12 months the oil revenue has dwindled to an extent that not even the economists were able to predict. Because of that, we are faced with diversification, and most states have comparative advantage in the area of agriculture.

“Though, Nigeria is technically in recession but that does not mean that Nigeria does not have a very robust economy. The recession in Nigeria today is purely monetary phenomenon, it still does not mean that the productive base of Nigeria has been eroded.

“What is happening now is temporary in nature and very soon the government is going to take action based on certain discussions that has been held in recent times especially within the purview of the national economic council which has prescribed certain economic policies that will be put in place in order to end the recession.”

He said money would soon be injected into the economy to reflate it, adding that in three months, the economy would be back on track.

“Benue is an agricultural state with very fertile ground, which is applicable to most states in the country. Nigeria is looking at agriculture as the main stay of the economy.

About the Author

Samed Olukoya
Samed Olukoya is the CEO/Founder of investorsking.com, a digital business media, with over 10 years' experience as a foreign exchange research analyst and trader. A graduate of University of East London, U.K. and a vivid financial markets analyst.

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