Nigeria Aims To Become China’s Top Export Partner In Five Years

Abuja, Nigeria – Nigeria has set an ambitious goal: to surpass Brazil and become China’s largest net exporter within the next five years.

This declaration was made by Joseph Tegbe, Director General of the China-Nigeria Partnership, at the opening of the China-Africa Economic and Trade Expo in Abuja on Thursday.

Currently, Nigeria’s exports to China stand at $22.6 billion, significantly behind Brazil’s $104.32 billion net export figure in 2023, according to the UN COMTRADE database.

However, Tegbe expressed confidence that the newly elevated China-Nigeria strategic partnership will dramatically alter this dynamic.

“One of our primary goals is to increase trade volume between Nigeria and China,” Tegbe stated.

He highlighted Brazil’s success as a model, noting Brazil’s $105 billion export to China in 2023 compared to China’s $59 billion export to Brazil.

“This is our desired position as a nation,” he emphasised, adding that the target is to surpass this figure within the next five years.

Tegbe underscored the significance of this ambition for the entire African continent, stating, “Industrializing Nigeria means industrialising 25% of Africa.

“An economically sound and stable Nigeria signifies a prosperous continent.”

The burgeoning partnership with China is already showing results, Tegbe added, citing Huawei’s annual training of 1,200 Nigerians and the current training program in China for 30 Nigerian officials from various government sectors.

The Chinese Ambassador to Nigeria, Yu Dunhai, echoed this sentiment, emphasizing the Expo’s role in implementing the agreements reached at the Beijing Summit Forum.

He highlighted the Expo’s potential to boost Nigeria’s industrialization and agricultural modernization through increased collaboration in areas such as engineering, manufacturing, biotechnology, and renewable energy.

Mr. Fang Qiuchen, Chairman of the China International Contractors Association, confirmed that Chinese firms are actively mobilising funds for significant investments in Nigeria, particularly in infrastructure, renewable energy, and smart city projects.

While specific investment figures were not disclosed, Qiuchen emphasized the substantial scale of planned projects and the collaboration with African and Chinese banks to finance these initiatives.

He also highlighted the opportunities presented by the integration of digital technologies and green development in driving economic growth.

The Expo, he noted, is a direct outcome of the Beijing Summit’s focus on accelerating infrastructure cooperation between China and Africa.