Ties That Matter

It has been my privilege to witness a huge transformation and pivot as well as an enormous development of China from a close distance during my years living in China. I will say that if ever there was a time when African countries needed to be modernised, it is now.

Themed Joining Hands to Advance Modernisation and Build a High-Level China-Africa Community with a Shared Future, the goal of the 2024 Summit on China-Africa Cooperation (FOCAC) held in Beijing is to strengthen China-Africa cooperation in a way that will help African countries to emulate China’s “new” long march towards modernisation. FOCAC can usher in a new era of cooperation, which is both sustainable and mutually beneficial as well.

During the course of China’s deepening economic ties with African countries, it is simultaneously gaining critical support in international forums, allowing China to exert more influence in the world. As China seeks to challenge and reshape a world order it perceives to be biased and inequitable, this kind of support is essential for it to succeed. Since Africa is a continent whose economic value to China is undeniable, the opportunities that China is offering African countries, including Nigeria, to follow the strategies behind its path to a “new” long march to has the potential to open up significant development opportunities that are not otherwise available to African countries.

Modernisation drive

This new development strategy can help Nigeria and other African countries to strategically position themselves by leveraging the industrialisation dividend associated with mega infrastructure construction projects as a result of the Chinese flagship programme of the Belt and Road Initiative (BRI), so that they successfully implement the African Continental Free Trade Area (AfCFTA) Agreement.

In order to ensure that Nigeria is able to effectively implement the AfCFTA Agreement, the Nigerian Action Committee has outlined an eight-pillar strategy, which includes improving trade facilitation, building infrastructure, strengthening financial institutions, bridging the trade information gap, and improving the mobility of labour across the continent. The strategy is aligned with the African Union’s Agenda 2063, the BRI, the nine programmes for China-Africa cooperation announced during 2021 FOCAC, as well as the Africa-China Dar es Salaam Consensus.

All of these initiatives recognise that trade and the regional trade integration are key factors in achieving inclusive economic growth and poverty reduction, as well as enabling Nigeria to diversify its exports as well as imports.

As a means of implementing the partnership of equals, China has repeatedly stated the importance of economic growth and development through trade channels. Consequently, China, which has enjoyed a rapid growth in productivity thanks to trade and competitive advantage in the recent decades, is willing to support African countries like Nigeria successfully implement the AfCFTA Agreement with a comprehensive policy framework. In addition to facilitating cross-border trade, China is also willing to help Nigeria in its pursuit of its development agenda and in closing the development gap in the country as well.

China has all the resources, especially human talent, that are necessary to assist Nigeria and other African countries to achieve their AfCFTA goals, which will deepen China-Africa cooperation in the long run. In doing so, Nigerian development agenda will be accelerated through the AfCFTA, and the country’s regional trade integration will be enhanced as more energy will be injected into its economy, allowing Nigeria to reach its full potential and close its development gaps.

As a global leader in industrialisation that wants to see Africa develop, China has nurtured its relationship with African countries, such as Nigeria, within the FOCAC framework. The commitment of China to the African continent was clearly displayed during the 2024 Summit of FOCAC which took place in Beijing, where Chinese President Xi Jinping pledged 360 billion yuan ($51 billion) to support Africa.

It is apparent that China’s commitment to African countries, including Nigeria, will continue to grow in the years to come.

As a result of China’s commitment to investing money into African development projects, such as infrastructure development, a new source of funds has been injected into Africa. Throughout the years, China has gained a great deal of popularity within Nigeria and across the continent in general, making it one of the leading partners among numerous African countries, including Nigeria, who has regarded China as a trusted partner. The infrastructure projects will help China to fully utilise the economic complementarity with African countries along the BRI routes in the process.

Focus on quality

As a country whose current trajectory is to transition from quantity to quality, the goal of China’s partnership is also to support Nigeria transition from quantity to quality by improving the country’s value-added production and address its domestic supply-side constraints through research and knowledge management, so as to increase Nigeria’s production of high-quality products and services. As a result, Nigeria will be able to diversify its exports to China and other global markets. This will enable Nigeria to access China’s enormous market and its middle-income consumers.

Since the AfCFTA is aimed at promoting intra-Africa trade and economic integration, Nigerians will also be able to specialise in their crafts, align their production capacity with international standards, and improve their infrastructure networks in order to deliver new products and services to the country and across the continent faster.

Although the AfCFTA focuses on trade within Africa, it may also indirectly affect trade between China and African countries. In future, African countries, such as Nigeria may become more attractive to Chinese investment and trade and partnership because of improved infrastructure, lower trade barriers, and harmonised regulations with Africa. Chinese leaders have consistently engaged with the region on several economic fronts, which has led some African leaders to believe that no country can match China’s economic engagement in Africa. It is primarily due to the substantial impact the Chinese direct investment has had on African economic development.

As African countries have witnessed, the Chinese government’s policies have been successful in alleviating unemployment and solving poverty problems. It is important to note that these milestones have been achieved courtesy of China’s effective implementation and strategic planning, which the Chinese government is willing to use to support African countries, including Nigeria, in attaining the above goals.

The author isMember of International Confucius Association,and Member of Nigerian History Association, University of Ibadan, Nigeria.