The Federal Government of Nigeria has reaffirmed its opposition to the use of foreign mercenaries to address the country’s Insecurity, insisting that such measures do not offer a sustainable solution. Instead, the government has expressed a strong interest in collaborating with China to localize the production of military equipment, thereby reducing reliance on external procurement and the delays associated with it.
This stance was emphasized on Thursday during a joint press briefing by Nigeria’s Minister of Foreign Affairs, Ambassador Yusuf Tuggar, and his Chinese counterpart, Wang Yi, at the Presidential Villa in Abuja.
The Chinese Foreign Minister was on an official visit to Nigeria to strengthen bilateral ties.
The visit underscores the deepening partnership between Nigeria and China, with both countries reaffirming their commitment to strategic cooperation in addressing regional security challenges and fostering economic growth.
Speaking at the briefing, Ambassador Tuggar emphasized that private military companies, regardless of their origin, are not the solution to Nigeria’s security issues. He called for collective efforts within the region, stressing Nigeria’s leadership role in addressing peace and security challenges on the continent.
“Nigeria has consistently demonstrated its capacity to lead efforts in tackling security challenges across Africa. The idea of allowing others to solve our problems for us is not acceptable. We must focus on collaborative approaches and rely on our leadership to address these challenges,” Tuggar stated.
He underscored the need for local production of both kinetic and non-kinetic military equipment, adding, “We are looking to work with partners like China to localize the production of military hardware. This will eliminate unnecessary delays and ensure we are self-sufficient in addressing our security needs.”
The visit by Chinese Foreign Minister Wang Yi builds on the gains of President Bola Tinubu’s state visit to China in 2024.
Tuggar highlighted discussions on mutual economic and political interests, as well as agreements in areas such as energy, agriculture, infrastructure, and petrochemicals.
Wang Yi commended Nigeria’s leadership in Africa and its plans to issue panda bonds in China under the currency swap agreement.
Yi announced that the People’s Republic of China is open to considering Nigeria’s request to expand the bilateral currency swap agreement. Initially signed in 2018 between the People’s Bank of China and the Central Bank of Nigeria, the agreement is valued at CN¥15 billion (approximately N720 billion or US$2.5 billion at the time).
Wang also invited Nigeria to explore the issuance of Panda bonds in China’s domestic bond market.
Panda bonds are renminbi-denominated bonds issued by foreign entities, offering access to China’s financial markets.
Highlighting the potential benefits, Wang explained that issuing Panda bonds could provide Nigeria with an additional revenue stream to support critical infrastructure projects, such as railway modernization. He assured that the initiative would come with robust financial backing to ensure safety and reliability.
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