Nigeria (Commonwealth) _ Nigerian Vice President Kashim Shettima stated that Nigeria would continue to assist China in maintaining a robust digital economy. He further emphasized this while speaking at the third Belt and Road Forum for International Cooperation conference, which took place on October 18 and 19, in Beijing.
The vice president congratulated China on the 10th anniversary of the Belt and Road Initiative (BRI). He stated that the project had a good impact on infrastructure development not only in China but around the world.
The BRI has made ground-breaking interventions and massive successes, particularly in the field of infrastructure. The successes of the Belt and Road Initiative demonstrate China’s commitment to leveraging cooperation and the UN’s efforts to achieve economic development.
BRI has been a vital contributor to the implementation of the UN 2030 agenda for Sustainable Development Goals, namely for the prosperity of people in all economies. Shettima, speaking on the digital economy, stated that the world was seeing new approaches and global dimensions to governance as a result of digital technology.
According to Shettima, the digital economy has played a significant role in accelerating global economic growth and recovery as a replacement mechanism via the transborder commerce process.
As the world recovers from the economic crisis caused by the COVID-19 pandemic, developing economies must utilize digital transformation strategies. Manufacturing, agriculture, retail, and human capacity building, as well as medical and health care, must be prioritized in order to achieve meaningful and sustainable development.
He praised China for pioneering digital seed growing as a means of expanding international economic cooperation beyond geographical boundaries. Nigeria, as Africa’s largest economy and most populous country, is no exception to the global change in digital economy. We aspire to stay at the top by developing and implementing digital-oriented policies.
Shettima stated that while Nigeria began by developing a digital strategy policy in November 2019, the government will do everything in its power to change and reposition the country’s digital economy to become a world leader.
He cited digital literacy, skills development, solid infrastructure, sub-infrastructure, service infrastructure, digital society, emerging technologies, and indigenous economy as policy cornerstones. These initiatives are part of the Federal Government’s commitment to diversify the Nigerian economy and increase productivity in vital sectors through technological innovation.
Nigeria is one of the African countries that has attracted the greatest Chinese investment. By 2021, cumulative investment had surpassed 20 billion USD, primarily in the development of free-trade and export-processing zones, oil extraction, home appliances and automobile assembly, agricultural production, and so on. The two free trade zones, Lekki FTZ and Ogun-Guangdong FTZ, have drawn over 1.51 billion USD in investment and provided over 7,000 job possibilities. China is Nigeria’s largest contributor to infrastructure development.
More than 20 Chinese enterprises are involved in the building of important economic and social infrastructure projects in Nigeria, including trains, roads, power, ICT, and oil refineries. The Abuja-Kaduna Railway, the Lagos-Ibadan Railway, the new airport terminals, the Lekki deep seaport, the Zungeru Hydropower Station, and other infrastructure projects are underway.. Nigeria is one of the African countries that has attracted the greatest Chinese investment.
The Abuja-Kaduna Railway, the Lagos-Ibadan Railway, the new airport terminals, the Lekki deep seaport, the Zungeru Hydropower Station, and other projects are boosting Nigeria’s economic and social development.
Cooperation is ensured by development assistance. China was the first to donate relief items in support of Nigeria’s fight against the pandemic at the start of the pandemic. The new ECOWAS headquarters building project, as well as the second phase of the Abuja Traffic Lights project, were both officially launched last year, and the agricultural technology demonstration center was officially handed over to the Nigerian competent authority. China would continue to support Nigerians in their quest for a better life.
