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Nigeria’s Quest for Development through International Cooperation: The Case of Her Economic Relations with China

Abstract


Since independence, Nigeria has been confronted with the challenges of underdevelopment and different political leaders has advanced different strategies to escape from the chasm. One of such strategies is by engaging in bilateral relationship with developed countries in which the foremost were European and American countries, whose relationship with Nigeria has been doubted to have significantly helped Nigeria to realize her objective. Without entirely jettisoning the relationship, Nigeria opened up bilateral relationship with China in 1971, especially but not limited to fostering economic cooperation. The relationship has so far spurred China to extend her foreign direct investment to Nigeria in different sectors of her economy but principally in the manufactures, power, and oil and gas. Bilateral trade has also flourished between them as China exports allegedly substandard industrial products to, and imports raw agricultural products from Nigeria, leaving trade balance skewed in favour of China. In all, Nigeria should be conscious in the relationship least the desired development would be a mirage.


Keywords

Cooperation, development, direct, economic, foreign, investment, trade

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