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President Tinubu Calls for Increase in Currency Swap Between China and Nigeria

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President Tinubu Calls for Increase in Currency Swap Between China and Nigeria

President Bola Tinubu has urged the Government of the People’s Republic of China to increase the $2 billion currency swap between Nigeria and China, to enhance trade between the two countries, speed up the infrastructural development in Nigeria and deepen the strategic bilateral relations.

Receiving the Minister of Foreign Affairs of China, Wang Yi, at the State House, the President also called for an upward review of the $50 billion aid package for Africa, which China’s President Xi Jinping announced last year.

Speaking to newsmen after the meeting between President Tinubu and the Chinese Minister, Nigeria’s Minister of Foreign Affairs, Ambassador Yussuf Tuggar said the two countries have recommitted to elevate their multilateral relations, especially in communications, clean energy, defence and infrastructure finance. 

Speaking through a female interpreter, Chinese Minister of Foreign Affairs, Yi said Chinese investments in Nigeria would focus on employment generation and infrastructural development. 

Our correspondent, Raliat Adenekan reports that President Tinubu also called on China to support Nigeria’s bid for a permanent United Nations Security Council seat, while the foreign minister said China would welcome Nigeria’s membership in the BRICS and participation in the global development mechanism.

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