Experts ask FG to key into China’s ‘Belt and Road’ initiative

Foreign Policy experts have urged the federal government to deepen its participation in China’s ‘Belt and Road’ initiative as a new paradigm for international cooperation and development. The initiative was launched in 2013 by Chinese President, Xi Jinping to build infrastructure networks both overland and maritime to connect Asia, Europe and Africa. It aims to create the […]

Foreign Policy experts have urged the federal government to deepen its participation in China’s ‘Belt and Road’ initiative as a new paradigm for international cooperation and development.

The initiative was launched in 2013 by Chinese President, Xi Jinping to build infrastructure networks both overland and maritime to connect Asia, Europe and Africa.

It aims to create the world’s largest platform for promoting policy coordination, facilities connectivity, unimpeded trade, financial integration and people-to-people bond.

The experts, at a round table dialogue on Friday in Abuja, said Nigeria should maximise China’s benevolence for Africa’s development and seek opportunities to strengthen cooperation with the framework of Belt and Road mechanism.

The existing mechanism of China-Africa cooperation, the Forum on China-Africa cooperation (FOCAC), has proven a viable and reliable framework that has delivered major cooperation projects between China and Africa, they noted.

“The Belt and Road international cooperation, under which the key issues of China-Africa cooperation through the existing mechanism of the FOCAC process is aligned, can be deepened and elaborated,” said Charles Onunaiju, director of the Centre for China Studies.

A lecturer at the University of Abuja, Dr Sheriff Ghah Ibrahim, said though Nigeria needs to exploit China’s close ties with Africa, it must not completely rely on China on the ‘Belt and Road’ initiative.

Nigeria must rise and help our own development and should contribute its own quota to the initiative, he said.

Others who spoke at the event urged the federal government to seize the opportunities presented by the initiative to advance the reconstruction of Nigerian economy.

The Deputy Ambassador of China to Nigeria, Mr Lin Jing, said the initiative would provide new opportunities to synergize China-Africa development strategies.

“The Belt and Road cooperation aims to be equal-footed, inclusive and beneficial to all. Every project delivers win-win results,” the envoy said.

The Deputy Director of International Cooperation at the Ministry of Budget and National Planning, Mr Simon Ileuma, hailed China “supportive” role on Nigerian economy describing the country as a “reliable ally in the spirit of economic, infrastructural, social and cultural development.”

Speaking on the humongous China’s loan deal with Nigeria, he said, “There is no country that depends solely on its resources to grow. You have to depend on loan to survive.

“The loan must be used for capital projects that have high rate of returns. This is what Nigeria has been benefitting from Chinese government.”

He made reference to the China-sponsored Abuja-Kaduna rail project, saying it has been giving the government high rate of returns.