The federal government has urged the removal of barriers obstructing investment and economic growth as Nigeria and China seek to enhance bilateral trade relations.
Speaking at the launch of the Nigeria-China Bilateral Business, Trade, and Investment Summit 2025 in Abuja, Minister of Foreign Affairs Yusuf Tuggar emphasized the need for Nigeria to modernize its business landscape.
Represented by Ambassador Bolaji Alade Akinremi, Director of Economy, Trade, and Investment at the Ministry of Foreign Affairs, Tuggar highlighted the importance of fostering innovation and implementing investment-friendly policies.
“We must transition from outdated frameworks to forward-thinking, technology-driven business ecosystems,” he stated, stressing the urgency of improving Nigeria’s business climate.
Hon. Jafaru Yakubu, Chairman of the House of Representatives Committee on Nigeria-China Parliamentary Relations, underscored the need to strengthen economic cooperation between both nations.
“A new era in Nigeria-China relations is here. We must collaborate to unlock Nigeria’s full economic potential by prioritizing ease of doing business,” Akinremi said.
China’s Economic and Trade Commercial Counsellor, Wang Ying-Ki, reaffirmed Nigeria’s position as China’s largest trade and investment partner in Africa. He also noted that President Bola Tinubu’s recent state visit to China had laid the groundwork for deeper economic collaboration.
“The agreements reached have mobilized the business community and provided a framework for enhancing cooperation,” Wang said, reaffirming China’s commitment to infrastructure development in Nigeria.
He cited the Ogun and Nike Free Trade Zones as prime examples of Chinese investments, adding, “The infrastructure we’ve developed has provided a solid foundation for Nigeria to improve its investment climate. I look forward to continued collaboration with you all.”
Yakubu emphasized the role of the Nigeria-China Relations Committee in tackling trade challenges and improving business conditions.
“The committee was established to recognize China’s growing influence in the global economy and its impact on Nigeria’s economic development. Through our work, we facilitate ease of doing business partnerships between Nigeria and China,” he stated.
He explained that the committee had engaged consulting firms to organize investment summits in Lagos and China, with recommendations to be presented to the National Assembly.
“This event is designed to showcase credible investment opportunities, present market-ready projects for investor engagement, foster collaborations, strengthen the business environment through strategic partnerships, and connect investors with financial institutions,” he added.
Key sectors of focus include agriculture, mining, solid minerals, renewable energy, oil and gas, construction, and manufacturing.
Kunle Yusuff, Executive Vice Chairman and CEO of Merited Negotiation Consulting, a consultant to the Committee on Nigeria-China Relations, stated that the summit would serve as a platform to assess the challenges Chinese businesses face in Nigeria.
“Beyond addressing these challenges, the summit will promote strategic international collaboration, allowing Nigerian and Chinese businesses to access global partnerships and foreign direct investment opportunities,” he explained.
Yusuff outlined the summit’s key agenda, which includes strengthening institutional linkages, facilitating direct investment, and encouraging collaboration between state governments and the private sector.
“Our goal is to shift the Nigeria-China business relationship from a trade-centered partnership to a development-driven one,” he added.
He also revealed that 217 Chinese companies had expressed interest in investing in Nigeria, stating, “This summit will be instrumental in fostering partnerships and ensuring mutual business growth between Nigeria and China.”
The committee, in collaboration with the Ministry of Foreign Affairs and the Nigeria Investment Promotion Commission, is formulating strategies to enhance the investment landscape.
Merited Negotiation Consulting has organized several high-profile global events, including sessions at the United Nations General Assembly in 2023 and 2024. It was also appointed by Liberty University’s CEO Summit in Virginia to facilitate African CEOs’ access to a global partnership network.