President Umaru Yar’Adua from Nigeria met with China’s Hu Jintao at People’s Hall in Beijing on the afternoon of February 28, 2008 as part of his four-day trip in China. Both leaders attended the ceremony to sign documents on exchanges and cooperation in culture and education.
Trade between Nigeria and China reached 3.13 billion dollars in 2006, up from 1.1 billion dollars in 2001, according to the latest data from China’s commerce ministry. Aside from oil deals with Nigeria, China has helped the country build railways and hydroelectric dams, while last year it launched a telecommunications satellite for the nation. Chinese media last month also reported that state-controlled China Development Bank was in talks to buy a five-billion-dollar stake in Nigeria-based United Bank for Africa.
Source: Xinhua, February 28, 2008