Nigeria Targets $30 Billion Trade with China by 2030 Through Strategic Partnership
Nigeria is setting its sights on a major expansion of trade with China, aiming for a bilateral trade volume of 350 billion RMB (around $50 billion) by 2030. The ambitious plan includes ensuring that Nigerian exports account for at least 30% of this trade, reflecting a stronger push to position local products in the global market.
Mr. Joseph Tegbe, Director General of the Nigeria–China Strategic Partnership (NCSP), highlighted the country’s trade ambitions while hosting a delegation from the Chinese Embassy in Nigeria. The visiting officials included Mr. Zhou Hongyou, Charge d’Affaires, and Mr. Wang Yingqi, Minister Counsellor for Economic and Commercial Affairs. Tegbe stressed that strategic collaboration would be central to sustainable economic growth for Nigerian businesses.
Key to achieving this target is the upcoming zero-tariff policy, which is expected to unlock new export opportunities for Nigerian agricultural produce. Tegbe emphasized that this policy, coupled with strong economic collaboration, will create a mutually beneficial environment that encourages both innovation and trade expansion.
The Chinese delegation welcomed Nigeria’s commitment to deepening economic and cultural ties. Zhou Hongyou expressed optimism about the growing partnership, highlighting potential collaborations in technology, agriculture, and human capacity development. He noted that the zero-tariff agreement could significantly boost Nigerian business opportunities while reinforcing the already strong bilateral relationship.
Beyond trade, the Chinese Embassy reaffirmed support for Nigeria’s industrialization drive, including steel development and agricultural sector growth. Tegbe also conveyed warm Lunar New Year wishes to the Chinese people, underscoring Nigeria’s dedication to fostering a long-term, sustainable, and culturally rich partnership with China.
source: The sun