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By Adewale Sanyaolu
Nigeria is aiming to significantly scale up bilateral trade with China, targeting 350 billion RMB (approximately $50 billion) trade volume by 2030, with Nigerian exports representing at least 30 per cent of the total volume.
The Director General of the Nigeria–China Strategic Partnership (NCSP), Mr. Joseph Tegbe, stated this recently when he hosted a delegation from the Chinese Embassy, comprising Mr. Zhou Hongyou, Charge d’Affaires of the Chinese Embassy in Nigeria; Mr. Wang Yingqi, Minister Counsellor for Economic and Commercial Affairs, and other senior officials of the Embassy.
According to him, the lofty target will be achieved by leveraging the upcoming zero-tariff policy and significant increase in the export of agricultural produce.
He also emphasised the importance of strategic economic collaboration to drive sustainable growth for Nigerian businesses.
Welcoming the delegation, Tegbe emphasised Nigeria’s commitment to the Comprehensive Strategic Partnership with China and harped on the One-China principle.
Zhou expressed satisfaction with the growing relationship between Nigeria and China and underscored the need to explore further avenues for deepening economic and commercial cooperation especially in technology, agriculture and human capacity development.
He expressed optimism that the zero-tariff agreement will create substantial opportunities for Nigerian businesses, boost bilateral trade, and further strengthen the already robust relationship between the two countries.
The Chinese Embassy expressed their support for Nigeria’s industrialisation drive, particularly in steel development and the agricultural sector.
It equally reaffirmed commitment to ongoing development projects across the country, in line with the Renewed Hope Agenda of President Bola Tinubu.
On behalf of the government and people of Nigeria, Tegbe felicitated with the Chinese people on the forthcoming Chinese Spring Festival to mark the new Lunar Year.
He noted Nigeria’s commitment to deepening cultural, diplomatic, and economic ties with the People’s Republic of China, fostering a more robust, sustainable, and mutually beneficial Nigeria–China partnership.
