China’s Investments on Nigeria’s Economy and Nigeria’s Economic Sustainability (1999-2023)
Abstract
The study is basically on China’s Investments on Nigeria’s Economy and Nigeria’s Economic Sustainability, (1999-2023). The objectives of the study are to; analyze China-Nigeria technological transfer and policy changes that have influenced Nigeria’s economic development, examine the terms and conditions of Chinese financial involvement in Nigeria, including loans and grants, with an emphasis on their impact on Nigeria’s economic sustainability. The method of research adopted was secondary method of sourcing for data and equally adopted a descriptive research design. Method of data analysis was content method of data analysis, while data were sourced from published academic literature, journal articles, newspapers and online publications. The theory adopted was Dependency Theory by Latin American Scholars such as; Dos Santos, Paul Prebisch, Andre Gunder Frank, Samir Amin, and some African Scholar too, who share the same progagations such as; Walter Rodney and Claude Ake. Findings showed that there were some potential benefits and challenges faced by Nigeria in integrating China’s technologies; and that lack of a cohesive national policy in Nigeria to fully absorb and implement these technologies has significantly slowed down the benefits, among others. Therefore, the study recommended that; Nigeria should prioritise policies that require technology and skills transfer to boost local capacity, Nigeria should enforce strict data protection laws and work towards building indigenous technological capabilities, etc.
