₦airaland Forum

President Bola Tinubu has said that Nigeria is positioned to become a major exporter to China in the next five years, after Beijing’s recent removal of tariffs on imports from 53 African countries, including Nigeria.

Recall that China announced a zero-tariff policy for goods from 53 African countries, allowing duty-free access to a wide range of exports, including agricultural produce, cosmetics, and personal care items.

Tinubu, represented by the Director-General/Global Liaison, Nigeria-China Strategic Partnership, Joseph Tegbe, stated this at the Nigeria-China Sustainable Business, Bilateral Trade and Investment Summit held in Lagos on Monday.

He outlined 10 key areas of China-Africa collaboration that Nigeria was well-positioned to leverage, particularly in agriculture, manufacturing, and digital trade.

He cited a recent surge in Chinese investments in Nigeria that the country must exploit including “an integrated agricultural investment portfolio exceeding $1bn; a novel cassava value chain initiative valued at $800m; investment in electric vehicles battery manufacturing and mineral extraction worth $1bn; a robust automotive manufacturing programme estimated at $1.2bn; a proposed $10bn in oil and gas sector investment commitments.”

According to Tinubu, the government must maximise the opportunities to re-industrialise Nigeria, thereby increasing its exports.

Tinubu said, “The partnership for trade prosperity reflects China’s commitment to zero-tariff access for least-developed countries, including 53 African states. This is an unprecedented gesture by a major economic power and positions Nigeria to exploit China’s vast consumer market, especially in agriculture, manufacturing, and digital trade. The action was implemented about a week ago by the Government of China, which removed tariffs on exports from 53 African countries, including Nigeria.

“The partnership for connectivity proposes 30 major infrastructure projects and enhanced logistics coordination under the Belt and Road initiative. Nigeria’s transport corridors, ports, and trade gateways are well-placed to serve as continental anchors within this ambitious network. In addition, Nigeria is well-positioned to take advantage of this with the Chinese investors’ strategic investment in Africa’s deepest seaport, the Lekki Deep Seaport and its environs.

“We are seeing opportunities, and it is our responsibility to maximize these opportunities to re-industrialise Nigeria, which is the objective and in line with the bold and audacious vision of President Bola Tinubu for a one trillion dollars economy.”

He called for the support of the legislature to actualise the China-Africa partnership actions.

Tinubu demanded appropriate legislation, trade facilitation laws, tariff harmonisation, and Customs reforms to reduce bottlenecks to ensure Nigeria benefits maximally from the zero-tariff access and bilateral trade frameworks.

He also called for legislative strengthening of land use policies, provision of budgetary support for demonstration farms, and enabling laws for agro-tech transfer, rural livelihoods, and food security collaborations.

“Parliament must champion climate and environmental legislation, promote renewable energy policies, and ensure Nigeria benefits from clean energy and green innovation.

“Also important is an amendment to industrial policy laws to accommodate digital cooperation, special economic zones, and joint ventures with Chinese firms.”

Tinubu said the Nigerian government was committed to reforms that would ease business operations for Chinese and other foreign investors, including legislative strengthening, amendments to land use policies, and climate regulation reforms.

“China must not be at the periphery of Nigeria’s investment landscape. It should be strategically and centrally positioned.

“Accordingly, we cannot but support this lofty vision and ambition with the right legislative instruments that unlock capital flow, incentivise technology transfer, eliminate trade bottlenecks, and secure bilateral investments.

“We need a common understanding that while policy formulation and execution reside with the executive, the legislature’s support in creating an enabling legal environment is irreplaceable. It is also worthy of note that a good ease of doing business environment can help unlock the tap of foreign capital, especially from our Chinese friends,” Tinubu said.

The president also identifies areas such as supporting hospital development, public health investment, green energy, climate resilience, innovation hubs, joint security training, peacekeeping, Small and medium-scale enterprises e-vehicle manufacturing and digital economy zones.

He reiterated that Nigeria’s collaboration with China must be anchored on mutual respect, shared opportunities, and sustainable growth, noting that this is essential to positioning Nigeria competitively in global trade.

Speaking at the event, Speaker of the House of Representatives, Tajudeen Abbas, expressed support for a legislative agenda aimed at enhancing the ease of doing business in Nigeria and deepening economic ties with China.

Abbas, who was represented by Minority Leader of the House, Kingsley Chinda, made this known at the Nigeria-China Sustainable Business, Bilateral Trade and Investment Summit held in Lagos on Monday.

He disclosed plans for a comprehensive bill designed to boost trade facilitation and align Nigeria’s economic frameworks with global standards.

“Strengthening legislative ties in trade with China is crucial. We support enacting legislations that ensure the free flow of business,” Abbas said. “The House of Representatives will continue to deepen partnership through concrete legislative actions on ease of doing business.”

Also speaking at the event, Minister of Foreign Affairs, Yusuf Tuggar, represented by a senior ministry official, Mr Bolaji Akinremi, described Nigeria-China relations as pivotal, particularly as China remains Nigeria’s largest trading partner in infrastructure financing.

Tuggar said Nigeria must move from a passive trading relationship with China to a more mutually beneficial and reciprocated partnership that allows the Nigerian private sector to thrive.

“Reciprocity clauses are needed to address the trade imbalance between Nigeria and China,” he said. “Nigeria should lead ECOWAS to position the sub-region as a single, competitive bloc and curb undercutting.”

He also called for tax harmonisation and reforms that would elevate Nigeria to co-equal status with China in trade negotiations.

Chinese Ambassador to Nigeria, Mr Yu Dunhai, echoed the call for stronger trade relations, noting that China is eager to import more Nigerian products.

“We are promoting Nigerian exports to China. We want to see made-in-Nigeria goods flood the Chinese market,” Dunhai said.

Chairman of the House Committee on Nigeria-China Relations, Jafar Yakubu, who set the tone for the summit, said Nigeria was committed to unlocking the full potential of its partnership with China and facilitating smoother trade flows between both countries.

Also present at the event were the Vice Chairman, Merited Negotiating Consulting Firm, Kunle Yusuff; Chairman, House Committee on Foreign Affairs, Wole Oke; and Deputy Managing Director of China Civil Engineering Construction Corporation, Guo Wenjun, among others.

Btruth:
..... thinking of what we can ship to China fast now 🤔. Someone should give an idea please

Ejyksneh:
I want to export myself to china out of this yoruba God forsaken regime insha allah


Please who has link?

Veegil:
https://www.google.com/amp/s/punchng.com/nigeria-plots-export-surge-as-china-drops-tariffs/%3famp

Veegil:
https://www.google.com/amp/s/punchng.com/nigeria-plots-export-surge-as-china-drops-tariffs/%3famp

Veegil:
https://www.google.com/amp/s/punchng.com/nigeria-plots-export-surge-as-china-drops-tariffs/%3famp

mustmust:
US is incresing Tarrif while China is reducing or removing tarrifs completely.

Who would your rather do business with?

Tomm the US will criticize China policies

richeeyo:
You need to understand economics to realize its a trap sir,
Which over the time it begins to manifest
But we would be fooled into thinking we enjoying

Wealthoptulent:
ehn BUT werin una wan SHIP, we import a lot and EXPORT majorly CRUDES PRODUCRTS, what DO 9jA get to OFFER to BENEFIT.. hope no BE TRAFFIKING n LOUDS

u see dem dem.... wan begin to export *****.. SMH

Btruth:
A lot. I was an exporter myself between 2010 to 2014. But the frustration at the port and especially the unstable export duties by the customs really put me off.

mustmust:
US is incresing Tarrif while China is reducing or removing tarrifs completely.

Who would your rather do business with?

Tomm the US will criticize China policies

Btruth:
..... thinking of what we can ship to China fast now 🤔. Someone should give an idea please

mrpuzzle:
This is a very bad news for Nigeria and most African countries.

Nothing to celebrate here. Our government should start immediately start banning the export of some of our agricultural products that is not enough of for our domestic consumption, or soon we can no longer afford them, if the government don't act accordingly.

davades:
Ginger is okay and what else ooooo maybe goat lool