Nigeria and China have reaffirmed their commitment to deepening bilateral trade and strategic cooperation, signaling a new phase in their longstanding partnership. The development follows a high-level meeting between the Director-General of the Nigeria–China Strategic Partnership (NCSP), Mr. Joseph Tegbe, and a delegation from the Chinese Embassy in Nigeria, led by Charge d’Affaires Mr. Zhou Hongyou.

During the meeting, Tegbe emphasized Nigeria’s dedication to its Comprehensive Strategic Partnership with China and reiterated support for the One-China principle. He outlined a bold plan to increase bilateral trade to approximately 350 billion RMB (around $50 billion) by 2030, with Nigerian exports contributing at least 30 percent of the total.

The strategy aims to achieve this target through enhanced market access under a proposed zero-tariff framework, boosted agricultural exports, and strengthened economic collaboration to drive Nigerian manufacturing and value-added production. The focus on industrialization and diversification reflects Nigeria’s broader efforts to reduce reliance on oil exports and expand its presence in global trade.

China remains Nigeria’s largest trading partner and a key source of foreign direct investment. Over the past two decades, bilateral trade has steadily grown, driven by Nigeria’s demand for machinery, electronics, and construction materials, alongside China’s interest in oil, agricultural produce, and solid minerals. Despite the growth, trade has historically favored China due to Nigeria’s limited export base. The current initiatives aim to rebalance this dynamic by facilitating Nigerian access to the Chinese market and encouraging investment in local production and infrastructure.

Beyond trade, bilateral cooperation now spans infrastructure development, rail and road projects, power, technology transfer, and cultural exchange. Several Chinese-backed initiatives align with Nigeria’s Renewed Hope Agenda under President Bola Tinubu, focusing on sustainable development and industrial growth.

Mr. Zhou expressed satisfaction with the evolving partnership and called for deeper collaboration, particularly in technology, agriculture, and human capacity development. He highlighted that the zero-tariff initiative would significantly benefit Nigerian businesses and promote equitable trade flows.

The meeting also served as a platform to celebrate the Spring Festival (Lunar New Year), with Tegbe conveying Nigeria’s congratulations to the Chinese government and citizens. He reinforced Nigeria’s commitment to strengthening cultural, diplomatic, and economic ties, describing the partnership as critical for long-term growth, mutual prosperity, and sustainable development.

This strengthened collaboration signals not just trade expansion but a strategic alignment aimed at building lasting economic, industrial, and cultural bridges between Africa and China.