In fostering economic prosperity in Nigeria, President Muhammadu Buhari has recently stated that the People’s Republic of China remains a strategic and dependable partner to change the direction and content of governance, including the management of the country’s resources with priority on accountability, transparency and result-orientation in governance.
President Buhari made the statement in his address at a Roundtable of Chinese and African Leaders at the recently-concluded Forum on China-Africa Cooperation (FOCAC) in Johannesburg, South Africa.
The president noted that his administration has embarked upon the “task of re-focusing our governance on the real needs of the vast majority of Nigerians,” with the confidence that China “will always stand shoulder to shoulder with us in our quest to fulfil the aspirations of our people to propel them to prosperity.”
The almost 73-year old leader lauded the objectives of FOCAC in cultivating, fostering and deepening socio-political cum economic, technological, and other forms of relations between China and Africa. According to him, “Africa expects Chinese investment flows to the real sector of our economies to promote African enterprises. Our over-riding objectives are to tackle the challenge of unemployment, wealth creation, food security and industrialization.”
He also stressed the crucial link between political stability, security and sustainable development on the African continent. In his word, “that Africa can only leverage productively on the potentials of ties with strategic and development partners in an atmosphere of political stability and security of lives and property as well as in a policy environment that guarantees the sanctity of collaborative joint ventures and investment on the basis of agreed rules and regulations”.
Drawing the attention of the Summit to the threat posed by global challenges such as fresh political conflicts, terrorism and other forms of extremism; trans-border crimes; illegal arms trade; irregular migration and cybercrimes, he said collective action was required to confront these new threats to global peace. “These are veritable threats to peace and security and without peace and security we cannot succeed in our development objectives,” he stressed.
President Buhari stated that China and Africa must work together to confront the above threats, as well as the challenge of climate change “for which Africa remains badly affected with severe threats to food security and social stability,” in addition to “unacceptable levels of poverty, unemployment and youth restiveness.”
The FOCAC meets every three years since its inaugural meeting in Beijing in 2000. China is the top trade partner for Africa with about $222 billion of goods and services changing hands between Chinese and African traders in 2014.
African countries have also benefited hugely from Chinese foreign aid in recent decades. Research shows that it has funded more than 2,500 development projects across 51 African states, worth a combined total of approximately $94 billion.
