THE POLITICAL ECONOMY OF NIGERIA – CHINA RELATIONS 1999 – 2010
Abstract
The relation between Nigeria and china has grown so much in recent years. This relation is governed by agreements which cut across political, trade, investment, aid, technical and military. The implementation of these agreements is uneven as China is strategically on the advantage side and Nigeria perpetually on the disadvantaged position. Therefore, the study examines the key features and patterns of the economic relations between Nigeria and China in order to establish an understanding of the impact of this relationship specifically to identify and examine the determinants of Nigeria–China relations; assess the relationship between economic reforms and the increase in trade between Nigeria and China; critically examine the relationship between economic reforms and increase in foreign investment between
Nigeria and China. The study was guided by three research questions and three hypotheses. To analyse the issues raised, the study was anchored on the dependency theory. The research relied heavily on secondary source of data in order to substantiate the research hypotheses. The findings after a detailed review of the existing literature and analysis of available data were: Nigeria’s exports to china have been dominated by oil exports with few non-oil exports finding their ways into China; import concessions and preferential treatments granted to Chinese investors at the expense of Nigerians created a loss in revenue; Chinese manufacturers have gained at the expense of Nigeria because of their ability to produce and export cheap products to Nigeria thereby undermining Nigeria’s industrializations efforts. It is thus suggested that the Nigeria economy be diversified; exports and dependence on oil exports be balanced with other resources untapped; the local industries in Nigeria be given home grown policy protection in order to compete favourably with the Chinese manufacturers to boost industrialization efforts.
TABLE OF CONTENTS
Title Page — — — — — — — — — i
Approval Page — — — — — — — — ii
Dedication — — — — — — — — — iii
Acknowledgment — — — — — — — — iv
Abstract — — — — — — — — — vi
List of Tables — — — — — — — — — vii
List of Figures — — — — — — — — viii
Abbreviations — — — — — — — — ix
Table of Contents — — — — — — — — xi
CHAPTER ONE: INTRODUCTION
1.1 Introduction — — — — — — — — 1
1.2 Statement of Problem — — — — — — 7
1.3 Objective of Study — — — — — — — 9
1.4 Significance of Study — — — — — — 9
1.5 Literature Review — — — — — — — 10
1.6 Theoretical Framework — — — — — — 21
1.7 Hypotheses — — — — — — — — 24
1.8 Method of Data Collection — — — — — — 24
CHAPTER TWO: THE ORIGIN AND DEVELOPMENT OF NIGERIA-CHINA RELATIONS
2.1 Introduction — — — — — — — — 28
2.2 The Evolution of Nigeria – China Relations — — — 28
2.3 Bilateral Relations 1960 to 1998 — — — — — 31
2.4 Bilateral Relations, 1999 to present — — — — 33
CHAPTER THREE: THE DETERMINANTS OF NIGERIA-CHINA RELATIONS
3.1 Identification of the Key Main Factors — — — — 37
3.2 Trade in Goods/Services — — — — — — 38
3.2.1 Gainers and Losers from Increased Nigeria-China Trade — 41
3.3 Investment Flows — — — — — — — 42
3.3.1 Potential Benefits of Inflow of Chinese FDI — — — 48
3.4 Aid/Technical Assistance — — — — — — 49
CHAPTER FOUR: THE IMPACT OF ECONOMIC REFORMS ON TRADE RELATIONS BETWEEN NIGERIA AND CHINA
4.1 Economic Reforms — — — — — — — 57
4.2 Overview of Nigeria – China Reforms — — — — 58
4.3 The Fundamental Disparities between the Chinese and the Nigerian Economic Reforms — — — — — — — 62
4.3.1 The Architect of the Reforms — — — — — 63
4.3.2 The Methodology of Implementation — — — — 63
4.3.3 The Political Will, Stability and Vision — — — — 64
4.4 Economic Overview of Nigeria-China Economies — — 65
4.5 Bilateral Trade — — — — — — — 71
4.5.1 Oil and Gas — — — — — — — — 72
4.5.2 Power — — — — — — — — — 75
4.5.3 Construction — — — — — — — — 77
4.5.4 Communications — — — — — — — 78
4.5.5 Manufacturing and Retail — — — — — — 79
4.6 Chinese Investment and Trade Patterns today — — — 80
4.7 Trade between China and Africa — — — — — 83
4.8 Chinese Industrial Development and Policies — — — 85
4.9 Common Features of Chinese Investment and Trade in Africa — 87
CHAPTER FIVE: THE IMPACT OF ECONOMIC REFORMS ON DIRECT FOREIGN INVESTMENT IN NIGERIA AND CHINA RELATIONS
5.1 China-Nigeria Investment Relations — — — — 90
5.2 Bilateral Investment Treaties between China and Nigeria — 92
5.3 China and Nigeria Investment Policies — — — — 95
5.3.1 Nigeria Investment Policy — — — — — — 96
5.3.2 Overview of Recent Developments in China’s FDI Policy — 98
5.4 Chinese FDI in Africa and Nigeria — — — — — 102
5.4.1 Chinese FDI Inflows to Nigeria — — — — — 102
5.4.2 Structure of China-Nigeria Investment — — — — 104
5.5 Characteristics of Chinese FDI and Loans in Africa and Nigeria– 107
5.6 Benefits and Challenges of Investment Relations between China and Nigeria– — — — — — — — 109
5.6.1 Potential Gainers and Losers — — — — — 111
5.7 Opportunities and Challenges for Nigerian Sectors — — 112
5.8 An Agenda for Future China-Nigeria Economic Relations — 113
5.9 The Future Prospects of China – Africa Economic and Trade Relations– — — — — — — — 114
CHAPTER SIX: SUMMARY, RECOMMENDATIONS AND CONCLUSION
6.1 Summary of Major Findings — — — — — 119
6.2 Recommendations — — — — — — — 122
6.3 Conclusion — — — — — — — — 124
References — — — — — — — — 127
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