Nigeria and China have maintained very good cooperation, not only political, but also economic, cultural and educational. Our cooperation has grown to include inter-personal relationship among our peoples. We are happy and excited about this. Here are two nations: a giant in Asia and the world, and a giant in Africa and the world, separated by great oceans and large land masses, that have achieved cohesiveness in their relationship which is growing by leaps and bounds, and in a very short time. Upstanding coordination and fusion already embody in our relationship.

Measures to enhance more economic cooperation are being taken and positive results are already being recorded. For example, trade is growing, hitting US$700 million in 2002. Educational exchanges are growing. Several Nigerians study at Chinese universities, and some Chinese have also studied Nigerian languages at Nigerian universities.

If you want to measure the closeness of Nigerian businesses to China, I encourage you to visit the Contonfair in October. Thousands of Nigerians will be attending.

However, in order to develop more economic collaboration, we require more direct Chinese Investment in the Nigerian economy, particularly, in energy, infrastructure, communication, banking, oil and gas industries.

Since the last ministerial meeting in Beijing, in 2000, many areas of Sino-African Cooperation have recorded progress. First, there have been political consultations and visits at the highest state levels. There have been more trade, more educational and cultural exchanges and better understanding of each other's circumstances. After the next meeting in Addis Ababa in December, I shall expect more Chinese investment in Nigeria, particularly in areas of infrastructure development and communication.

Nigeria has drawn some lessons from China's economic reform. We have reformed substantially. We have liberalized all sectors of our economy. We have privatized several state agencies and companies, but we have not recorded the expected influx of foreign capital and investment as china has done. If there are other areas in which we can learn from China, we will not hesitate.

Now that the Chinese economy is becoming synchronized into the rhythm of African economy, we would learn more from the micro economic management of China and its ability to sustain stable currency exchange rate.

(China.org.cn December 10, 2003)