Ahead of a conference promoting Chinese-African collaboration, China and Nigeria have committed to strengthening their economic connections, signing agreements on nuclear energy, media exchanges, and Beijing’s $1 trillion infrastructure initiative. Before the Forum on China-Africa Cooperation opened, Chinese President Xi Jinping and Nigerian President Bola Tinubu held meetings in Beijing on Tuesday.

On the eve of the three-day summit that starts on Wednesday, X1 and Tinubu announced that they have raised the level of relations between their nations to a “comprehensive strategic partnership.” As significant emerging nations, China and Nigeria “will inject fresh impetus to China-Africa relations in the new era and spearhead common progress among Global South countries,” according to Xi. According to the Chinese State Council, Tinubu declared his intention for Nigeria to overtake China as its top trading and investment partner in Africa.

The countries’ cooperation will lead to “robust development, stability, and security,” according to a statement issued by Tinubu’s office. In addition to carefully reviewing taxes and tariffs, Tinubu stated, “We have recognised the need to reform our economy and we are doing so to various other segments of our nation’s economy.” “Trading and investing partners will find it simple to fund their accounts and withdraw funds with ease.” China’s flagship global infrastructure initiative, the Belt and Road Initiative, has identified Africa as a crucial location. According to Beijing’s Ministry of Commerce, Chinese enterprises have signed contracts worth over $700 billion throughout the continent in the ten years leading up to 2023.

With its $5.8 billion completion date set for 2030, Nigeria’s largest power plant will be the $5.8 billion Mambilla hydroelectric project, which is being financed in part by the Chinese state-run Export-Import Bank of China.