KEY POINTS
- The Nigerian government asks China to eliminate its trade levies because it has recently cut such restrictions for 33 African countries.
- The Nigerian official seeks Chinese backing for key sectors such as renewable energy sector along with technology development.
- China reports its trade volume with Nigeria achieved $21 billion cumulatively while Nigerian exports toward China demonstrated 25 percent growth.
The Nigerian government has asked China to grant their nation trade benefits that the country extended to 33 African nations and recently removed from other nations.
Strengthening economic ties with China
Minister of State for Foreign Affairs, Amb. Bianca Odumegwu-Ojukwu expressed this plea to Yu Dunhai who serves as Chinese Ambassador to Nigeria during their meeting.
Nigeria’s Ministry of State for Foreign Affairs called for China to extend tariff-free trade treatment to the country as it has done with 33 other African states while asking China to support four key sectors including electric vehicle production and digital technology and renewable energy and agriculture.
Amb. Bianca Odumegwu-Ojukwu emphasized to the Chinese Ambassador that the Renewed Hope Agenda under President Bola Tinubu has economic transformation as its top priority.
China reaffirms commitment to Nigeria
During the event Ambassador Dunhai established China’s strategic alliance with Nigeria and showed that trade volumes reached $21 billion in the past year and Nigeria’s China-bound exports grew by 25 percent.
The Chinese government declared its ongoing support for Nigeria’s G-20 bid and trade development along with infrastructure enhancement.
The $2 billion currency swap agreement received fresh renewal from Dunhai because it creates opportunities for improved trade and investment between China and Nigeria.
