Stakeholders push currency swap to strengthen Nigeria-China

CHINESE President, Xi Jinping and the United States President, Donald J. Trump, in a phone conversation, have reaffirmed the importance of maintaining stable relations between the world’s two largest economies.

In a post on X (formerly Twitter), China’s Ambassador to Nigeria, Yu Dunhai, shared details of yesterday’s phone call, during which President Xi said both leaders had maintained “sound communication” over the past year, including what he described as a successful meeting in Busan that helped chart the direction of China-United States relations.

According to Xi, the progress made in recent engagements has been welcomed by citizens of both countries and the international community. He expressed hope that in 2026, both nations would work together to strengthen ties despite global uncertainties.

“In the New Year, I hope to work with you to steer the giant ship of China-United States relations steadily forward through winds and storms, and accomplish more big things and good things,” Xi was quoted as saying.
The Chinese leader emphasised that while both countries had their respective concerns, dialogue based on equality, mutual respect and mutual benefit could help address differences. He added that China remained committed to aligning its words with actions and results in managing international relations.

Xi also pointed to major domestic and international milestones expected in 2026, including the launch of China’s 15th Five-Year Plan and the United States’ 250th independence anniversary celebrations. He noted that China would host the Asia-Pacific Economic Cooperation (APEC) Economic Leaders’ Meeting, while the United States was expected to host the G20 Summit.

He said both sides should strengthen dialogue, properly manage differences and expand practical cooperation while building mutual trust step by step.
In response, Trump reportedly described China and the United States as “great countries,” adding that bilateral relations between the two powers were the most important globally.

Trump said he maintained strong personal relations with President Xi and respects his leadership. He added that both countries were performing well economically and in trade.

“I want to see China succeed. The United States would like to work with China and make more progress in bilateral ties,” Trump said, according to the statement shared by the Chinese ambassador.

Trump also acknowledged China’s position on Taiwan and said he supports continued dialogue to maintain stable relations during his presidency.

Meanwhile, the National Coordinator, Nigeria China Business Council, Dr Sam Agbi, has called for currency swap arrangements and visa policy reforms to strengthen trade and business relations between Nigeria and China.

Speaking at the Lagos Forum marking the 55th anniversary of diplomatic relations between both countries and a media briefing for the 2026 China-Africa Year of People-to-People Exchanges, he said strong diplomatic and business relationships remain critical for sustainable economic cooperation.

He described Nigeria-China relations as balanced and mutually beneficial, stressing that long-term partnerships must be built before business opportunities arise.

Agbi added that Nigeria and China currently enjoy a robust relationship built on mutual respect and understanding, noting that such foundations are necessary for business growth.