- He commended the financial collaboration between the China Development Bank and 15 African banks, alongside First Bank of Nigeria Limited’s role in fostering cross-border synergies
Vice President Kashim Shettima has praised the growing economic ties between Nigeria and BRICS nations, noting a $1.27 billion foreign capital inflow from the bloc by June 2024—up from $438.72 million in the same period last year.
Speaking at a BRICS forum hosted in Africa, Shettima highlighted Nigeria’s NGN 7.38 trillion total trade value with the bloc, emphasizing China’s role as Nigeria’s leading trading partner. He commended the financial collaboration between the China Development Bank and 15 African banks, alongside First Bank of Nigeria Limited’s role in fostering cross-border synergies.
The Vice President also underscored the importance of President Bola Tinubu’s September visit to China, which resulted in five agreements under the Belt and Road Initiative to boost infrastructure and trade. He reiterated the administration’s focus on trade expansion, industrialisation, and economic diversification as key drivers of growth.
“China remains Nigeria’s number one trading partner. Strengthening this relationship, especially in financial and banking systems, is pivotal to our strategic goals,” Shettima said.
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