The Director General of the Nigeria-China Strategic Partnership (NCSP), Joseph Olasunkanmi Tegbe, has announced that recent bilateral engagements between Nigeria and China have resulted in over $20 billion in investment commitments across critical sectors of the Nigerian economy.
Tegbe made the disclosure in a statement released by the NCSP on Friday, following a media interactive session held in Abuja. He emphasized the urgent need to deepen Nigeria-China cooperation as a strategic step toward accelerating Nigeria’s industrialisation and sustainable economic growth.
Investment Commitment Across Key Sectors
According to Tegbe, the NCSP remains committed to coordinating investments, facilitating stakeholder dialogues, and ensuring proper due diligence to guarantee long-term, mutually beneficial outcomes from the Nigeria-China partnership.
He noted that since the elevation of Nigeria-China relations to a Comprehensive Strategic Partnership and the creation of the NCSP, Nigeria has achieved significant progress in areas such as agriculture, automotive manufacturing, mining, steel production, and energy.
“Recent engagements have secured over $20 billion in investment commitments,” Tegbe stated. “These investments are targeted at enhancing food security, creating employment opportunities, and initiating a new phase of industrial development in Nigeria.”
He further stressed that the NCSP is tasked with leading the implementation of initiatives under the Forum on China-Africa Cooperation (FOCAC), while also pursuing additional bilateral projects and agreements outside of FOCAC.
“Our goal is to ensure that Nigeria not only executes FOCAC projects efficiently but also capitalises on Chinese technology, expertise, and financing to revitalise our industrial and manufacturing base,” he added.
Tegbe reaffirmed that the NCSP’s mission aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda, which seeks to reposition Nigeria as Africa’s industrial and economic powerhouse.
Background Context
As previously reported by Nairametrics in January 2025, Nigeria-China trade volume in 2024 exceeded $20 billion, according to Chinese Ambassador to Nigeria, Yu Dunhai. Speaking at the Chinese Lunar New Year celebration in Abuja, Yu described Nigeria as a key African partner with global influence and reaffirmed China’s commitment to expanding trade cooperation through FOCAC.
Additionally, Nigeria’s Vice President Kashim Shettima noted in November 2024 that trade between Nigeria and China reached $22.6 billion in 2023, making it one of the most significant trade relationships on the African continent.
However, data indicated an 11.5% drop in trade volume in 2024, compared to the previous year, reflecting broader global economic shifts.
Despite the decline, China remains one of Nigeria’s largest trade partners, exporting mainly manufactured goods, while Nigeria’s exports to China are largely made up of primary commodities.
The strengthened strategic partnership and new investment commitments are expected to usher in a new chapter in Nigeria-China relations, with tangible benefits for both nations.
