- Naira Swap Is Imperative For Both Countries.
By Jabiru Hassan.
The Honourable Minister of Works, His Excellency, Sen. (Engr.) David Nweze Umahi, CON, FNSE, FNATE, stated on Wednesday, March 19, 2025 that Nigeria expects increased investments and enhanced technology transfer from the Chinese government beyond what is currently available.
The Minister made this assertion during a courtesy visit from His Excellency, Yu Dunhai, the Chinese Ambassador to Nigeria.
Engr. Umahi highlighted the various road and infrastructure projects being executed by Chinese firms such as CCECC, CHEC, CBC, CGC, and a host of others.
He emphasised that China has every reason to support the Nigerian President in promoting economic growth, particularly in terms of infrastructural development.
He, therefore, urged the Chinese government to respond positively to Nigeria’s friendly overtures by bringing adequate investments and technology to boost the economy. Additionally, he commended China for its sophisticated and world-class infrastructure development and requested the transfer of such advanced technologies, along with specialised training for Nigerian engineers in China.
He also encouraged further cooperation to strengthen the existing bilateral relationship between the two countries. He urged the Ambassador to expedite discussions on the Naira swap deal, which he believes will facilitate seamless transfer of funds and enhance bilateral cooperation.
Earlier, the Chinese Ambassador, H.E. Yu Dunhai, praised Nigeria for its cultural diversity and the enterprising spirit of its citizens. He acknowledged Nigeria as one of the world’s largest exporting nations, similar to China.
The Ambassador commended President Bola Ahmed Tinubu, GCFR, for his transformative leadership, particularly in providing quality and basic infrastructure to Nigerian citizens.
He assured the Minister of his full cooperation in elevating the existing relationship between both countries and expressed optimism about the viability of the Naira swap deal, especially now that Nigeria is a member of BRICS nations.
Present at the courtesy visit were the Honourable Minister of State, Bello Mohammad Goronyo, Esq., the Permanent Secretary, Engr. Olufunso Adeniyi, FNSE, and other Directors in the Ministry.
