Nigeria-China Trade Relations and Economic Development in Nigeria, 2001-2013.
ABSTRACT
Over the past several decades, the economies of the world have become greatly connected through international trade and globalization. The trade relations between Nigeria and China have grown in recent years.
Overtime, researchers have contributed on the Nigeria-China relations with interest on foreign aids, balance of trade, foreign direct investment and trade policies between the two countries.
Most of them anchored their explanation on dependency theory. They pay less attention in explicating the relations in terms of mutual benefits arising from the relations.
However, this study examined Nigeria-China trade relations and economic development in Nigeria in order to establish an understanding of the impact of Nigeria-China bilateral agreements on the volume of Chinese trade with Nigeria and to establish a link between the increase in the volume of Nigeria-China trade on economic development in Nigeria.
The study was guided by two research questions: Has the Nigeria-China bilateral trade agreements enhanced the volume of Chinese trade with Nigeria? Has the increase in the volume of Nigeria- China trade enhanced economic development in Nigeria?
To analyze the issues and questions raised, the study was anchored on the theory of complex interdependence. The study adopted the qualitative method of data collection and analysis; it relied on secondary sources of data.
The study found that Nigeria-China bilateral trade agreements had a positive impact on the volume of Chinese trade with Nigeria; and more so, the increase in the volume of Nigeria-China trade enhanced economic development in Nigeria within the period of study.
The study recommended that the Nigerian government should utilize its own talent by pooling together leading scholars, officials, businessmen and civil society representatives to form a committee dedicated to prescribing ideas on how to optimize Chinese engagement.
project material.
TABLE OF CONTENTS
Title Page i
Approval Page ii
Dedication iii
Acknowledgements iv
Abstract vi
Table of Contents vii
List of Tables and Figures ix
CHAPTER ONE: INTRODUCTION
1.1 Background of the Study 1
1.2 Statement of the Problem 6
1.3 Objective of the Study 9
1.4 Significance of the Study 9
CHAPTER TWO: LITERATURE REVIEW
2.0 Introduction 11
2.1 International Trade 11
2.2 Nigeria-China Bilateral Relations and Volume of Trade 15
2.3 Nigeria-China Trade Relations and Economic Development 21
CHAPTER THREE: METHODOLOGY
3.1 Theoretical Framework 32
3.2 Hypotheses 35
3.3 Research Design 36
3.4 Method of Data Collection 37
3.5 Method of Data Analysis 38
3.6 Logical Data Framework 39
CHAPTER FOUR: ORIGIN AND DEVELOPMENT OF NIGERIA-CHINA RELATIONS
4.1 Introduction 41
4.2 Evolution of Nigeria-China Relations 42
4.3 Nigeria-China Bilateral Relations 1960-1998 46
4.4 Nigeria-China Bilateral Relations 1999-2013 48
4.5 The Need for Nigeria and China Relations 51
CHAPTER FIVE: THE IMPACT OF NIGERIA-CHINA BILATERAL TRADE AGREEMENTS ON VOLUME OF TRADE
5.1 Trade between Africa and China 55
5.2 Common Features of Chinese Trade and Investments in Africa 52
5.3 Nigeria-China Trade in the Oil and Gas Sector 59
5.4 Nigeria-China Trade in the Power Sector 63
5.5 Nigeria-China Trade in the Construction Sector 65
5.6 Nigeria-China Trade in the Communication Sector 66
5.7 Nigeria-China Trade in the Manufacturing/Retail Sector 67
5.8 Bilateral Trade Agreements between Nigeria and China 70
5.9 The Volume of Trade between Nigeria and China 79
CHAPTER SIX: THE IMPACT OF NIGERIA-CHINA TRADE ON ECONOMIC DEVELOPMENT IN NIGERIA
6.1 Introduction 80
6.2 Impact of Chinese Companies in Nigeria on Economic Development in Nigeria 81
6.3 The impact of Chinese Loans and Aids on Economic Development in Nigeria 85
6.4 The impact of the Telecoms Sector on Economic Development
In Nigeria: The Role of Chinese Trade with Nigeria 94
CHAPTER SEVEN: SUMMARY, CONCLUSION AND RECOMMENDATIONS
Summary 99
Conclusion 101
Recommendations 103
BIBLIOGRAPHY 106
project material.
INTRODUCTION
1.1 Background of the Study
Over the past several decades, the economies of the world have become greatly connected through international trade and globalization. Foreign trade has been identified as the oldest and most important part of a country’s economic relationship.
The basis for foreign trade rests on the fact that nations do differ in their resource endowment, preferences, technology, scale of production and capacity for growth and development. Over the past decades the volume of trade between nations of the world has increased considerably.
Particularly, Nigeria has witnessed a sharp rise in the volume of trade and investment with other nations of the world. The relations between Nigeria and China which cut across political, trade, investment, aid and military spheres have grown so much in recent years (Omoju & Adesanya, 2012).
Okolie & Chime (2013:126) underscored the inevitability of inter-state relations emanating from the inherent tendency of man for social relations, when they wrote:
The world of a man is in a flux. The fluidity of social relations conduces into the search for social coalescence, partnership and cooperation.
Naturally, man is created with inbuilt and ever elastic gregarious instincts which propel man to enter into social relations with other men basically to eke out a living.
These gregarious instincts combine with differential natural resource endowments to induce man to develop the propensity to partner with others to address the needs of the community.
Fundamentally, the scenario opens new vistas of relations between and among states in a world of change. International trade is recognized as the most significant determinant of economic development of a country, all over the world.
project material.
BIBLIOGRAPHY
Baran, P. (1957), Political Economy of Growth. California: Unique Press
Chibundu, V.N (2000), Nigeria-China Foreign Relations, 1960-1999. Ibadan: Spectrum Books Limited.
Coe, M. & Helpman, V. (1995), A Study on Economic Development. Boston: Prince Precious House Press
David, B. (1985), Economic Statecraft. Princeton: University Press
Egbula E. & Zheng H. (2011), China and Nigeria: South-South Alliance. France: Paris OECD Gilpin, R. (1975), U.S Power and Multinational Corporation: The Political Economy of Foreign Direct Investment. New York: Basic Books
Hutchinson, A. (1975), China’s African Revolution, London: Hutchinson.
Manroe, F. (1975), International Trade Policy in Transition. London: Exingtan Books and Brothers
Marshall, A. (2001), International Trade and Globalization. Wembly: Groove Publishers