THE INVESTOR AND THE INVESTEE NIGERIA-CHINA RELATIONSHIP IN A MULTI-RELIG
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https://doi.org/10.5281/zenodo.10704344%20Abstract
ABSTRACT
This article examines China’s loans and their impact on infrastructural and human capital development in Nigeria. Nigeria and China has continued to maintain diplomatic and economic relations, with ongoing discussions about potential projects and financial cooperation. Nigeria is a country that is reckoned as being religious; however, other countries expect to see the dividends that the Nigerian government usually collects from other countries. Since January 2022, Nigeria has engaged in loan agreements with China as part of the Belt and Road Initiative (BRI), a global infrastructure development strategy initiated by the Chinese government. Many of the loans from China to Nigeria are aimed at funding critical infrastructure projects. he BRI is a Chinese-led initiative focused on enhancing global trade connectivity through infrastructure development. The increasing level of debt from Chinese loans has raised concerns globally, including in Nigeria. Critics argue that the terms of some loans may be onerous, leading to potential debt sustainability challenges for borrowing countries. This study focuses on China’s aid in terms of loans and assesses its impact. This study made use of twelve (12) purposively selected informants and also data from relevant academic literature. Content analysis was adopted. Emerged themes include: i) the normative practice of corruption; ii) the attitude of Nigerians; iii) falsifying figures for contracts; and iv) increasing poverty. Nigerians perceive the large borrowings of the Nigerian government from China as having little or no effect on the growth and development of the country. There have been calls for increased transparency and accountability regarding loan agreements between Nigeria and China. Recommendations were discussed.
Keywords: Africa, Chinese loans, Nigeria Bilateral Relations, Corruption, Poverty, Debt.
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