China near deal with Nigeria on oil drilling rights – Dino Mahtani and David White

From the Financial Times (link)

Nigeria is finalising a deal to give China preferential rights in bidding for four oil drilling licences in exchange for $4bn in infrastructure investment in the world’s eighth largest oil exporter.

The deal was high on the agenda as Hu Jintao, China’s president, began a two day state visit to Nigeria on Wednesday. The two countries are due to sign several cooperation agreements.

Over the last few years, hungry China has ramped up its interest in Africa’s Gulf of Guinea coastline, widely seen as one of the world’s oil exploration hotspots.

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