NIGERIA-CHINA TRADE RELATIONS: A CRITICAL SURVEY 2014-2017
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Abstract
Nigeria and China have taken the responsibility to be at the forefront confronting the challenges of their economic development. China has been able to adopt its foreign policy to its domestic development strategies to an unprecedented level by encouraging the state controlled companies to seek out exploration and supply contacts with countries that produced oil, gas and other resources. This study examines the Nigeria-China Trade Relations: A critical survey between 1999-2017. The objective of the study is to find out the nature of bilateral trade relations between Nigeria and China. Dependency theory was adopted as theoretical framework of analysis for the work. The theory was used to explain how Nigeria solely depends on China products for development. However, this study employed the secondary method of data collection which employ the use of qualitative and quantitative method to analyze the data sourced. Findings clearly shows that Nigeria engagement with China just like any bilateral relationship has some advantage and disadvantage and that optimal outcomes of the engagement would depend on the policies and institution that are put in place to minimize the competing effects. The study also finds that China is virtually everywhere in the country but information about its engagements and activities are fragmented. The study therefore, recommended that Nigeria-China trade relations appeared to an unequal engagement, Nigeria should used her mineral resources for economic development of its citizenry.