The Minister of Foreign Affairs, Yusuf Tuggar, has stated that the country is focusing on exporting “finished products” to China and other parts of the world.
This was disclosed in a video uploaded on his official X page on Friday, amid President Bola Tinubu’s state visit to China and his participation in the 2024 Summit of the Forum on China-Africa Cooperation, held from September 4-6, 2024.
This announcement comes after Nigeria and China recently signed several Memoranda of Understanding in Beijing, covering the Belt and Road Initiative, nuclear energy cooperation, human resource development, and media exchange.
President Tinubu, while I China emphasized Nigeria’s economic potential as the most populous country in Africa and the largest economy on the continent.
He highlighted that Nigeria’s youthful population could drive growth across various sectors and boost trade opportunities.
“Nigeria holds great potential as the country with the largest population in Africa and is the biggest economy, with a very young population that can drive economic growth and cross-sectoral programs,” President Tinubu said.
Tuggar In the recent video addressed concerns over potential exploitation in Nigeria’s relationship with China.
He reassured that both nations have clearly defined goals concerning exports, highlighting a mutual commitment to advancing their economic partnership.
“We’re not children, so there’s no need to look at us from an infantile perspective. We know exactly what we want, and we seek partnerships with countries like China, who understand that we don’t want to remain exporters of primary resources.
“We want to add value, create jobs, and manufacture. Our aim is to export finished products to countries like China,” he noted.
According to him, China, being the largest market in the world, is well-positioned to appreciate Nigeria’s readiness for collaborative export initiatives.
Tuggar expressed confidence that China understands and supports Nigeria’s goal of engaging in the shared export of finished products.
The Minister emphasized that Nigeria remains committed to pursuing partnerships with countries that are aligned with its goals for mutual development.
“Our approach is one of strategic autonomy.
“Nigeria seeks partners like China, who understand our goal to move beyond exporting raw materials. With our strategic autonomy, we are ready to collaborate with all nations to drive development and growth,” he added.
China has consistently maintained robust commercial ties with Nigeria.
In the first quarter of 2024, China emerged as Nigeria’s leading trading partner in terms of imports, followed by India, the United States, Belgium, and the Netherlands.
