The Director General of the Nigeria-China Strategic Partnership, Joseph Olasunkanmi Tegbe, has revealed that recent engagements between Nigeria and China have attracted investment commitments exceeding $20 billion across critical sectors of the Nigerian economy.
Tegbe made this disclosure in a statement issued by the NCSP on Friday, following a media briefing in Abuja.
He emphasised the importance of deepening bilateral cooperation to support Nigeria’s industrialisation and economic development agenda.
The statement also noted the NCSP’s continued efforts in coordinating investments, facilitating stakeholder dialogue, and ensuring proper due diligence to deliver meaningful and lasting outcomes from Nigeria-China partnerships.
Tegbe further noted that since the elevation of bilateral ties to a Comprehensive Strategic Partnership and the formation of the NCSP, Nigeria has achieved notable progress in several priority sectors.
“Our focus is to ensure that Nigeria not only implements FOCAC projects efficiently but also leverages Chinese expertise, technology, and financing to reactivate Nigeria’s manufacturing and industrial sectors,” he stated.
These investments are expected to enhance food security, generate employment, and ignite a new phase of industrial growth across Nigeria.
Tegbe also stated that the NCSP is tasked with driving the implementation of projects under the Forum on China-Africa Cooperation (FOCAC), while actively exploring additional partnerships beyond existing bilateral agreements.
“Our focus is to ensure that Nigeria not only implements FOCAC projects efficiently but also leverages Chinese expertise, technology, and financing to reactivate Nigeria’s manufacturing and industrial sectors,” he stated.
He affirmed that the NCSP will remain aligned with President Bola Ahmed Tinubu’s Renewed Hope Agenda, which seeks to accelerate national development and establish Nigeria as Africa’s leading industrial hub.
It was earlier reported that trade volume between Nigeria and China surpassed $20 billion in 2024, according to the Chinese Ambassador to Nigeria, Yu Dunhai.
Speaking at the Chinese Lunar New Year celebration in Abuja, Ambassador Yu highlighted Nigeria’s importance as a major African nation with global influence and a key BRICS partner.
He expressed confidence in deepening trade ties and advancing the implementation of agreements under the Forum on China-Africa Cooperation to benefit citizens of both countries.
In a related development, Vice President Kashim Shettima noted in November 2024 that trade between Nigeria and China had reached $22.6 billion in 2023, making it one of the largest trade partnerships on the continent.
