President Bola Tinubu has called on the Government of the People’s Republic of China to increase the $2 billion currency swap between Nigeria and China to enhance trade between the two countries.
He also called for an upward review of the $50 billion aid package for Africa, which China’s President Xi Jinping announced last year.
China and Nigeria recently renewed their currency swap agreement, valued at ¥15 billion (approximately $2 billion), to enhance trade and investment.
Receiving the Minister of Foreign Affairs of China, Wang Yi, at the State House on Thursday, the president, in a release issued by his Adviser on Information and Strategy, Bayo Onanuga, said increasing the level of currency swaps will speed up the infrastructural development in Nigeria and deepen the strategic bilateral relations.
According to President Tinubu, “We still demand more in the area of currency swap. The level you have approved as a government for Nigeria is inadequate considering our programme. If you can increase that, it will be well appreciated. Our bond should grow stronger and become unbreakable.”
