Nigeria, China Reaffirm Commitment to Expanding Trade, Strategic Partnership

Michael Olugbode in Abuja

Nigeria and China have reaffirmed their resolve to deepen bilateral trade and strategic cooperation following a meeting between the Director General of the Nigeria–China Strategic Partnership (NCSP), Mr. Joseph Tegbe, and a high-level delegation from the Chinese Embassy in Nigeria.

The Chinese delegation was led by the Charge d’Affaires, Mr. Zhou Hongyou, and included the Minister Counsellor for Economic and Commercial Affairs, Mr. Wang Yingqi, alongside other senior embassy officials.

Welcoming the delegation, Tegbe restated Nigeria’s commitment to its Comprehensive Strategic Partnership with China and reaffirmed support for the One-China principle. He disclosed Nigeria’s plan to significantly scale up bilateral trade, targeting a trade volume of about 350 billion RMB (approximately 50 billion dollars) by 2030, with Nigerian exports accounting for at least 30 percent of the total.

He explained that the target would be driven by improved market access under the proposed zero-tariff framework, increased agricultural exports, and stronger economic collaboration aimed at boosting Nigerian manufacturing and value-added production.

China is Nigeria’s largest trading partner and one of its most significant sources of foreign direct investment. Over the past two decades, trade between the two countries has grown steadily, driven by Nigeria’s demand for machinery, electronics, construction materials and manufactured goods, as well as China’s interest in Nigeria’s oil, agricultural produce and solid minerals.

Current trade volume between both countries runs into tens of billions of dollars annually, though the balance has historically favoured China due to Nigeria’s limited export base. In response, Nigeria has intensified efforts to diversify exports, expand non-oil trade and attract Chinese investment into local production, infrastructure and industrial zones.

Bilateral cooperation has also expanded beyond trade to include infrastructure development, rail and road construction, power projects, technology transfer, education and cultural exchange. Several Chinese-backed projects across Nigeria align with the country’s broader economic development goals.

In his remarks, Zhou expressed satisfaction with the growing strength of Nigeria–China relations and called for deeper collaboration, particularly in technology, agriculture and human capacity development. He noted that the zero-tariff initiative would provide Nigerian businesses with greater access to the Chinese market and help rebalance trade flows.

The Chinese Embassy also reiterated its support for Nigeria’s industrialisation agenda, especially in steel development and agricultural value chains, while reaffirming commitment to ongoing development projects across the country. These efforts, the embassy noted, are consistent with the Renewed Hope Agenda of President Bola Tinubu.

On behalf of the Nigerian government and people, Tegbe congratulated the Chinese government and citizens ahead of the Spring Festival marking the Lunar New Year. He emphasised Nigeria’s determination to strengthen cultural, diplomatic and economic ties with China, describing the partnership as critical to long-term growth, mutual prosperity and sustainable development.