The Federal Government has announced plans to collaborate with China to domesticate the production of military equipment, aiming to eliminate delays associated with reliance on foreign procurement.
This comes as the Chinese government expressed enthusiasm for Nigeria’s proposed issuance of panda bonds under its currency swap policy.
These developments were disclosed during a joint press briefing on Thursday by Nigeria’s Minister of Foreign Affairs, Ambassador Yusuf Tuggar, and his Chinese counterpart, Wang Yi, at the Presidential Villa, Abuja. Wang Yi was on an official visit to Nigeria.
Speaking on Nigeria’s security challenges, Tuggar firmly dismissed the involvement of private military companies, emphasising that the nation could lead its region in addressing peace and security issues.
“Nigeria has consistently proved effective in leading other countries in our region, and I would even say, on the continent at large, in addressing challenges to peace and security,” Tuggar stated.
He highlighted Nigeria’s commitment to solving its own problems and fostering partnerships rather than allowing external entities to take charge.
“So private military companies, as far as we are concerned, it doesn’t matter whether they’re from north, south, east, west; we don’t think it is going to provide the panacea,” he said.
Tuggar stressed the need for local production of military equipment, stating, “We want to work with countries like China in domesticating production of military equipment, both kinetic and non-kinetic. This is what we’re looking for. So that we don’t have to go out looking to procure because of the delays and so many rules and regulations. We need to be able to produce locally.”
He reaffirmed Nigeria’s reputation as a responsible country without expansionist tendencies, which has earned the trust of other nations.
Chinese Minister of Foreign Affairs, Wang Yi, praised the strategic relationship between China and Nigeria under the leadership of President Xi Jinping and President Bola Tinubu.
Wang noted three major outcomes in their bilateral relations:
1. Elevated Relations: “Our presidents jointly announced the elevation of China-Nigeria relations to a comprehensive strategic partnership.”
2. New Cooperation Platform: The establishment of the Intergovernmental Committee’s first plenary session has boosted cooperation quality.
3. International Collaboration: Both nations have strengthened their coordination in global and regional affairs, contributing to the rise of the Global South.
“Over more than half a century since the establishment of diplomatic ties… China and Nigeria have deepened our friendship and pursued practical cooperation, setting a fine example of South-South cooperation,” Wang stated.
Addressing financial cooperation, Wang supported Nigeria’s plans to issue panda bonds in China, highlighting the nation’s credibility and financial stability.
“We welcome the panda bonds to be issued. We welcome Nigeria to issue panda bonds in China because we have full confidence in Nigeria’s credibility. By issuing panda bonds, Nigeria will gain good revenue, and the safety is guaranteed,” Wang said.
He added that the collaboration would further bolster Nigeria’s infrastructure development, especially in the railway sector.
Wang expressed optimism about the future of China-Nigeria relations, stating, “Under the guidance of the two presidents, the relationship between the two countries will continue to be strategic, exemplary, and provide momentum and confidence for high-quality development of China-Africa cooperation and the modernization of Africa.”
He added, “Through the joint efforts of the two sides, the China-Nigeria comprehensive strategic partnership will surely embrace an even brighter tomorrow.”
