Nigeria Plans Increased Exports to China as China Slashes Tariffs

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.

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.”