https://en.sputniknews.africa/20250222/nigeria-urges-china-to-extend-tariff-waivers-boost-bilateral-trade-and-investment-1070775326.html
Nigeria Urges China to Extend Tariff Waivers, Boost Bilateral Trade and Investment
Nigeria Urges China to Extend Tariff Waivers, Boost Bilateral Trade and Investment
Sputnik Africa
Bilateral trade between Nigeria and China surpassed $21 billion last year, with Nigerian exports to China increasing by over 35%. Despite these gains, Nigeria... 22.02.2025, Sputnik Africa
2025-02-22T12:15+0100
2025-02-22T12:15+0100
2025-02-22T12:15+0100
nigeria
sub-saharan africa
economy
bola tinubu
china
lagos
west africa
infrastructure
asia
investment
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Nigeria has called on China to extend trade tariff waivers to the country, aligning it with 33 other African nations that currently benefit from such exemptions. The appeal was made by Nigeria’s Minister of State for Foreign Affairs, Bianca Odumegwu-Ojukwu, during a bilateral meeting with China’s Ambassador to Nigeria, Yu Dunhai on Friday.The minister emphasized the need for a more balanced trade relationship between the two nations, highlighting the growing economic ties that have spanned over five decades.Odumegwu-Ojukwu also welcomed the approval of Air Peace Nigeria Airlines to operate a direct weekly flight from Lagos to Guangzhou, alongside Xiamen Airlines’ new China-Nigeria route. She described these developments as a boost to trade and investment, facilitating easier business exchanges.Infrastructure development was another key area of discussion, with Nigeria acknowledging China's contributions to its railway and road networks. The minister also highlighted ongoing modernization efforts in Nigeria’s power sector and ports, aiming to attract more foreign investment.Cultural exchange remains an important aspect of bilateral relations, with an increasing number of Nigerian youths showing interest in learning the Chinese language. Odumegwu-Ojukwu emphasized that such exchanges would further strengthen diplomatic and economic ties.In response, Ambassador Yu Dunhai reaffirmed China’s commitment to deepening its partnership with Nigeria. He acknowledged President Bola Tinubu’s recent visit to China and his participation in the China-Africa Cooperation framework, which he said had elevated the relationship to new heights. Dunhai also reiterated China’s policy of providing condition-free grants to African nations and assured Beijing’s continued support for Nigeria’s aspirations on the global stage.
https://en.sputniknews.africa/20241202/africa-in-focus-as-china-abolishes-tariffs-for-least-developed-countries-report-says-1069507162.html
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nigeria, economy, bola tinubu, china, lagos, west africa, infrastructure, asia, investment, learning language, culture
Nigeria Urges China to Extend Tariff Waivers, Boost Bilateral Trade and Investment
Christina Glazkova
Writer / Editor
Bilateral trade between Nigeria and China surpassed $21 billion last year, with Nigerian exports to China increasing by over 35%. Despite these gains, Nigeria seeks further economic cooperation, particularly in industrialization, digital technology, renewable energy, and agriculture.
Nigeria has called on China to extend trade tariff waivers to the country, aligning it with 33 other African nations that currently benefit from such exemptions. The appeal was made by Nigeria’s Minister of State for Foreign Affairs, Bianca Odumegwu-Ojukwu, during a bilateral meeting with China’s Ambassador to Nigeria, Yu Dunhai on Friday.
The minister emphasized the need for a more balanced trade relationship between the two nations, highlighting the growing economic ties that have spanned over five decades.
"We are still working actively to set in motion economic and trade policies that will create the much-needed balance in trade between both countries," she
wrote on X.
Odumegwu-Ojukwu also welcomed the approval of Air Peace
Nigeria Airlines to operate a direct weekly flight from Lagos to Guangzhou, alongside Xiamen Airlines’ new China-Nigeria route. She described these developments as a boost to trade and investment, facilitating easier business exchanges.
Infrastructure development was another key area of discussion, with Nigeria acknowledging China's contributions to its railway and
road networks. The minister also highlighted ongoing modernization efforts in Nigeria’s power sector and ports, aiming to attract more foreign investment.
Cultural exchange remains an important aspect of bilateral relations, with an increasing number of Nigerian youths showing interest in learning the Chinese language. Odumegwu-Ojukwu emphasized that such exchanges would further strengthen diplomatic and economic ties.
In response, Ambassador Yu Dunhai reaffirmed China’s commitment to deepening its partnership with Nigeria. He acknowledged President Bola Tinubu’s recent visit to China and his participation in the
China-Africa Cooperation framework, which he said had elevated the relationship to new heights. Dunhai also reiterated China’s policy of providing condition-free grants to African nations and assured Beijing’s continued support for Nigeria’s aspirations on the global stage.
