Free Preview of Members-Only Content
To view the requested intelligence, you must be a Stratfor.com member.
SummaryNigeria inked several cooperation agreements, including those on trade and tourism, with China July 3. The deals will cement the foundation for economic and political cooperation between Beijing and Abuja and could provide China with an important alternative source of energy. AnalysisNigerian Vice President Atiku Abubakar met with his Chinese counterpart Hu Jintao this week in Beijing. The two signed a series of cooperation agreements covering issues such as trade, tourism, development and combating drug trafficking. A Chinese engineering firm also recently inked a deal to build an oil refinery in Akwa Ibom in the volatile Nigerian Delta region. Since 1999 Nigeria has been begging the West for trade and investment outside the oil sector, and in the absence of this, has now turned sharply toward China. Beijing in return hopes to gain a valuable energy ally. The agreements cement developing ties between Beijing and Abuja and establish the foundation for a long-term economic and political relationship. China buys most of its oil from the Persian Gulf, as does much of Asia, which is why producers in the Gulf region tack an additional surcharge on their deliveries to Asia. China hopes to reduce this dependency by courting alternative suppliers of energy, and building a close relationship with Nigeria is a key part of Beijing's strategy.
| Stratfor Members, please log in at the top left hand corner |
