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Nigeria, China Seek to Remove Trade Barriers
The Federal Government has called for the removal of obstacles hindering investment and economic growth as Nigeria and China move to strengthen bilateral trade relations.
Minister of Foreign Affairs, Yusuf Tuggar stated this at the unveiling of the Nigeria-China Bilateral Business, Trade, and Investment Summit 2025 in Abuja where he stressed the need for Nigeria to modernise its business environment.
Represented by the Director of Economy, Trade, and Investment at the Ministry of Foreign Affairs, Ambassador Bolaji Akinremi, the minister highlighted the importance of fostering innovation and investment-friendly policies.
“We must shift from outdated models to forward-thinking, technology-driven business ecosystems,” he said, emphasising the urgency of creating a more conducive business climate.
Chairman, House of Representatives Committee on Nigeria-China Parliamentary Relations, Hon. Jafaru Yakubu underscored the significance of strengthening economic ties between the two nations.
“A new chapter in Nigeria-China relations is now. We must work together to unlock Nigeria’s full potential, with a clear focus on the ease of doing business,” Akinremi said.
China’s Economic and Trade Commercial Counsellor, Wang Ying-Ki, reaffirmed Nigeria’s role as China’s largest trade and investment partner in Africa.
He also noted the impact of President Bola Tinubu’s recent state visit to China, which laid the groundwork for further economic cooperation.
“The agreement they reached mobilised the business community and set a guideline for enhancing our cooperation,” Wang said, highlighting China’s commitment to infrastructure development in Nigeria.
He cited the Ogun and Nike Free Trade Zones as key examples of Chinese investment in Nigeria, stating, “The infrastructure we’ve built laid a solid foundation for Nigeria to improve its investment environment.”
Hon. Yakubu stressed the role of the Nigeria-China Relations Committee in addressing trade challenges and improving the business climate.
“The Nigeria-China Relations Committee was established to acknowledge the growing influence in the global economy and its significant impact on Nigerian economic development. Through our service delivery, we identify ease of doing business partnerships between Nigeria and China,” he said.
source: allafrica.com
