• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Economy

Nigeria to embrace China, Russia, US as competition for $473 billion economy toughens

Nnaemeka Onyekachi by Nnaemeka Onyekachi
May 14, 2024
in Economy
Yusuf Tuggar at a U.S.-Nigeria diplomatic meeting.
Share on FacebookShare on TwitterShare on Linkedin

The Nigerian government has said it will get along with rival economic powerhouses such as the United States, China and Russia as they all seek to cut their slices of cake from a $473 billion economy.

Nigeria’s Minister of Foreign Affairs, Yusuf Maitama Tuggar, told  MSNBC in an interview during his working visit to the US after the  US-Africa Business Summit and the U.S.-Nigeria Binational Commission meetings held in both countries recently.

Tuggar uploaded the video of the interview via his X page on Monday night.

RelatedStories

Ghana’s President Mahama dissolves seven ministries to save costs 

Ghana receives US deported Nigerians, Gambia other West African nationals 

September 11, 2025
‘If war is what the U.S. wants, be it a tariff or trade war, we’re ready’ – China 

China donates $1 million to support Nigeria’s flood victims 

August 27, 2025

He was asked to comment on the military and economic contests of the US, China, and Russia on the African continent.

The question came amid the Federal Government’s rebuttal of plans to allow any foreign military base in Nigeria.

The minister maintained on Monday that Nigeria’s position on the three countries will remain strategic.

He acknowledged the economic rivalry between the three countries but added that Nigeria will not align with one of them against others.

What he said,

“Yes, of course, we are very wary of Africa becoming the ground for contestations, great  power contestations.

“There has been a change from a bipolar world to a multipolar world, and this tends to attract  contestations by great powers. Our outlook is that of strategic autonomy.  We get along with everyone.

“We also, of course, have a history of non-alignment, but we are democratic.  We have had seven successive elections since 1999, and we don’t want to see any private military companies or mercenaries in our – on our continent. Nigeria successfully tackled the insecurity and conflict in Sierra Leone, in Liberia,  leading ECOMOG, and now we’re doing it with the Multinational Joint Task Force, along with Niger, with Cameroon, with Chad.

“And we feel that’s the way forward, as opposed to exogenous solutions.  We would rather endogenous solutions that are supported with – by countries like America  that have been great partners to Nigeria and many others on the African continent.”

Nigeria’s partnership with US

Giving further insight into his recent trip to the U.S., Tuggar said Nigeria needs to partner with America to further strengthen its foreign policy agenda.

He added that he is using the visit to push for Nigeria’s enlistment as a permanent member of the United Nations Security Council, saying his country has the population and is Africa’s largest economy.

He said,

” And, of course, to build on the gains that we have made so far with regards to our foreign policy agenda, which is, just like you mentioned earlier in your program, democracy, demography,  development, and diaspora, the four Ds.  And, of course, Nigeria is the largest democracy on the African continent. It is the largest country in terms of population.

“Two hundred and twenty million were set to become the third largest country in the world by the year 2050, when we will have a population of 400 million, and the largest economy. So we need to democratize the very governing organs of the world.  Nigeria needs to belong to the G20.There needs to be a reform of the UN Security Council. Nigeria needs to be in that Security Council as a permanent member.

“And we need to develop. We are fighting – we’ve been fighting terrorism for the last 15 years successfully with homegrown solutions. We have a multinational joint task force that has successfully degraded Boko Haram in the  northeastern Lake Chad region.  And, yeah, so we’re here to partner with America.”

More insights

  • The working visit is a fallout of the sixth U.S.-Nigeria Binational Commission which held in Abuja on April 29-30, 2024.
  • The U.S. delegation welcomed Tuggar’s 4D policy of Democracy, Development, Demography, and Diaspora and acknowledged Nigerian ideas to incorporate U.S. contributions to meeting these goals.
  • The U.S. delegation noted the United States International Development Finance Corporation has a portfolio of over $700 million in direct loans, loan guarantees and other financing support in Nigeria.
  • In a joint statement, both sides agreed to take steps to expand trade and investment ties.

Follow us for Breaking News and Market Intelligence.
Tags: chinaRussiaUnited StatesUS-Africa Business SummitYusuf Maitama Tuggar
Nnaemeka Onyekachi

Nnaemeka Onyekachi

My name is Nnaemeka Onyekachi, a writer, public speaker and an award winning journo with over 5,000 reports on a wide range of topics associated with the Nigerian society and the international community. Currently serving as a Senior Editorial Analyst at Nairametrics, my passion lies in delivering insightful financial,corporate, economic news and analysis on foreign relations, governance, judiciary and legislature.

Related Posts

Ghana’s President Mahama dissolves seven ministries to save costs 
Business News

Ghana receives US deported Nigerians, Gambia other West African nationals 

September 11, 2025
‘If war is what the U.S. wants, be it a tariff or trade war, we’re ready’ – China 
Business News

China donates $1 million to support Nigeria’s flood victims 

August 27, 2025
World’s top 20 richest countries by total household wealth 
Economy

World’s top 20 richest countries by total household wealth 

August 20, 2025
America flag on flag pole waving
"Japa"

U.S. considers reducing fixed visa periods for students, exchange visitors, and foreign journalists 

August 11, 2025
part-time jobs
Education

14 part-time jobs Nigerian students in the U.S. can take to earn between $34,000 and $71,000 annually 

August 9, 2025
America flag on flag pole waving
"Japa"

U.S. to revive $15,000 visa bond program for travelers from high-risk countries 

August 5, 2025
Next Post
Jamila Bio Ibrahim

FG to empower 5000 entrepreneurial NYSC members with N10 million each 

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

arco
arco
access bank
nairametrics
first bank









DUNS

Recent News

  • Roxettes Group mulls relocating plants from Southeast to Lagos over insecurity  
  • Lagos reintroduces another 61-day amnesty window on existing buildings without planning permit
  • LivingTrust Mortgage Bank records N255.6 million pre-tax profit in Q3 2025, up 7.04% 

Follow us on social media:

Recent News

Roxettes Group mulls relocating plants from Southeast to Lagos over insecurity  

Roxettes Group mulls relocating plants from Southeast to Lagos over insecurity  

October 25, 2025
Lagos govt seals multiple buildings under construction on Lagos Island for lacking permits 

Lagos reintroduces another 61-day amnesty window on existing buildings without planning permit

October 25, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics