Nigerian President Goodluck Jonathan will visit China next week in a trip aimed at signing infrastructure deals and boosting trade between the Asian power and Africa’s biggest oil producer, officials said Wednesday.
Nigeria, Africa’s most populous nation, has borrowed money from China to finance infrastructure projects, and Beijing has shown increasing interest in Nigeria’s oil industry.
Jonathan is expected in China from July 9-12.
“We want to build trade and economic relationships and we want to have a good exchange of knowledge,” Finance Minister Ngozi Okonjo-Iweala told reporters.
She said that the visit aims to “increase trade, get them to increase investment in Nigeria and get a strategic long-term relationship”.
“We want to up our trade volume with China of non-oil goods. This is our objective because we want to diversify our economy,” she said. Oil accounts for some 80 percent of government revenue in Nigeria.
Trade and Investment Minister Olusegun Aganga put trade volume between the two countries at $13 billion dollars (10 billion euros) in 2012, up from about $2 billion in 2005. Deals involving loans amounting to some $1.3 billion for areas including electricity and airport construction are expected to be signed during the visit.
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