Nigeria and China signed agreements on Wednesday on oil exploration and the fight against disease as Chinese President Hu Jintao (
Nigeria agreed to give China four oil drilling licences in exchange for a commitment to invest US$4 billion in infrastructure, Nigerian officials said.
The oil deal was the largest of seven bilateral agreements signed by the giants of Asia and Africa, which also included Chinese help with Nigeria's fight against malaria and bird flu.
Analysts said the oil deal was a good fit for both countries. China, the world's most populous nation, needs more imported oil to fuel its rapidly growing economy. Nigeria, Africa's most populous nation but also one of the world's poorest, needs foreign investment to speed development.
"The main purpose of my visit is to deepen the Nigeria-China relationship and strengthen the partnership both politically and economically," Hu said through an interpreter during a signing ceremony with Nigerian President Olusegun Obasanjo.
Under the oil deal, Nigeria will give first right of refusal to state-run China National Petroleum Corp on four oil exploration blocks at an auction next month. China will buy a controlling stake in Nigeria's 110,000 barrel-a-day Kaduna oil refinery and build a power station.
"The agreement is a formalization of the four oil block contracts which includes the maintenance and management of the Kaduna refinery and setting up a power generation station," said Nigerian Minister of State for Petroleum Edmund Daukoru.
Another agreement set up a US$500 million export credit from the Eximbank of China to Nigeria for infrastructure development.
The agreements included one on economic and technical cooperation under which China would grant Nigeria US$700 million. Others are a US$90 million grant to help Nigeria fight malaria and US$20 million to improve investments between the two countries.
The two countries also signed memoranda of understanding on information technology and improved exports of Chinese goods.
Hu arrived on Wednesday in oil-rich Nigeria on his second African tour since he became the Chinese leader three years ago.
Obasanjo, who met Hu, thanked China for its "tremendous" assistance to Nigeria. He emphasized China's help in providing anti-malaria drugs.
"However, we want China to teach us how to produce the drugs," Obasanjo said.
Obasanjo also recalled that China "donated generously" to Nigeria during his country's recent bird flu outbreak.
He told Hu that, "Nigeria appreciates our purposeful and rewarding relations with China and would cooperate with it for the betterment of our nation."
"We need to increase our cooperation for the betterment of our peoples, Africa, and the world," Obasanjo said.
Hu called for the stronger relations between Nigeria and China, praising Obasanjo's efforts to "safeguard ethnic stability in Nigeria" and broader stability in Africa.
Hu said China was committed to continued cooperation with Nigeria in the areas of health, culture, education and the provision of other social infrastructure.
He recalled that at the last UN General Assembly in September, he promised zero tariffs for exports from some developing African countries to China, the provision of anti-malaria drugs for African countries, the training of professionals of African descent by China, the building of infrastructure for African countries and the building of "new strategic relations between China and Africa."
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