A HISTORICAL CONTEXTUALIZATION OF SINO-NIGERIAN ECONOMIC RELATIONS, 1971- 2012

Johnson Olaosebikan Aremu, William Abiodun Duyile

Abstract


The study examined the economic relations between Nigeria and China. It investigated how Chinese firms contributed to the development of the Nigerian economy. This was done against the backdrop of the massive investment of China in the Nigerian economy. The study relied heavily on documentary data. The documentary data were however subjected to internal and external criticisms as well as textual and contextual analysis for authentication. The study found out that the Nigerian state, in its quest to buy goods and attract investments from Chinese investors, has ended up having a massive and unfavourable balance of trade deficit. The implications of these are increase in the nation’s unemployment level, dependence on the Chinese economy and lack of technological knowhow which has been partly the reason for its stagnated economy.

 

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trade, imbalance trade, unemployment, and developing economy

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References


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Ibid

Ibid

Porter: The USSR in Third World Conflict,p.109

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Dan Omoweh, Ogaba Oche, and Osita Agbu: Issues in Nigeria & China Dialogue: Nigerian Perspective (Paper presented at the fourth Nigeria- China Dialogue on Foreign Policy in The Nigerian Institute of International Affairs, Lagos, Nigeria, May 3, 2001), p.70

Ogunkola et al: Cited from World Integrated Trade Solution (WITs) 2007. Note: Nigerian exported mostly Crude oil to China

L. Wong: The impact of Asian National Oil Companies in Nigeria (London: Chatham House, 2009), p.3

Omoweh, Oche, Agbu: Issues in Nigeria & China Dialogue: Nigerian Perspective, p.13

Wong: The impact of Asian National Oil Companies in Nigeria,p.4

Ibid.,p.3

Kaplinsky R, McCormick D & M Morris: The Impact of China on Sub- Saharan Africa.(London: DFID, 2006),p.6

Omoweh, Oche, Agbu: Issues in Nigeria & China Dialogue: Nigerian Perspective, p.13

Ibid.

Wong: The impact of Asian National Oil Companies in Nigeria,p.3

Omoweh, Oche, Agbu: Nigeria and China: Bilateral Ties in a New World Order,p.3

Ibid.

Wong: The impact of Asian National Oil Companies in Nigeria,p.3

Nigeria get $1 billion China rail loan. BBC News 2006-05-22. Retrieved 2017-08-31

Ibid.

Ibid.

Ogunkola: Cited from World Integrated Trade Solution (WITs) 2007.

“China launches Satellite for Nigeria” MSNBC. 2007- 05-14. Retrieved 2017-08-22

“Nigeria turns to China for Defense Aid”, Financial times. 2006-2-07. Retrieved 2017-09-02

Ibid.

Omoweh, Oche, Agbu: Nigeria and China: Bilateral Ties in a New World Order, p.4

Ibid., p.54.

Ibid.

Ibid


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