Belt and Road Initiative: Experts identify economic growth for Nigeria, Africa
Foreign affairs experts and academics have identified economic growth, among other benefits for Nigeria and other African countries participating in the Chinese Belt and Road Initiative (BRI). At a one-day conference, tagged: “The Belt and Road Initiative and Africa: Problems and Prospects”, organised by the Nigerian Institute of International Affairs (NIIA) in Lagos, participants expressed optimism on global trade integration and economic development which they identified as the thrust of the initiative.
Dr Sheriff Ibrahim from University of Abuja who spoke on “Belt and Road Initiative and Nigeria” said aside the fact that China itself seeks to expand its market base, while at the same time seek to internationalise the acceptability of its currency – Yuan, the participating countries across Asia, Africa, South America and Europe also stand the chance of having socio-economic integration.
Similarly, Prof. Alaba Ogunsanwo who spoke on “Belt and Road Initiative in Africa: Lessons from Case Studies of Kenya, Ethiopia and Djibouti” said China through many of its projects in Africa has proven over time that it can offer rewarding partnership some of which western power, despite years of relationship had refused to offer.