The Nigeria-China Strategic Partnership (NCSP) has reaffirmed Nigeria’s commitment to the One-China principle, emphasising the country’s unwavering recognition of the People’s Republic of China as the sole legal government representing the entire Chinese territory, including Taiwan.

The Director General of the NCSP, Joseph Tegbe, said this stance, previously reiterated by President Bola Ahmed Tinubu at the 2024 FOCAC Summit, underscored the country’s diplomatic alignment with China on key geopolitical issues.

Speaking at the pre-summit unveiling for the Nigeria-China Sustainable Bilateral Business, Trade, and Investment Summit, organised by the House of Representatives Committee on Nigeria-China Relations, Tegbe outlined Nigeria’s strategic vision for deepening economic cooperation with China.

He noted that while China remains one of Nigeria’s largest trading partners, with bilateral trade reaching $23.3 billion in 2023, addressing the trade imbalance remains a key priority.

Tegbe pointed to China’s global investment strategy, citing $163.1 billion in outbound investments in 2024 as an indication of its growing influence in the global economy.

He revealed that since the establishment of the Nigeria-China Strategic Partnership five months ago, over 216 Chinese companies have shown interest in investing in Nigeria, with 74 focused on the oil and gas sector alone.

Tegbe also disclosed that the Presidency has received over 70 proposals for transformational projects, with Chinese investment pledges nearing $40 billion.
He highlighted regulatory bottlenecks, bureaucratic inefficiencies and trade barriers as past impediments to seamless business operations but commended government institutions such as the Nigerian Investment Promotion Commission (NIPC) and the Presidential Enabling Business Environment Council (PEBEC) for improving Nigeria’s ease of doing business.

Tegbe said the upcoming Nigeria-China Business Summit, slated for 2025, aims to tackle these challenges by developing a legislative framework that will enhance trade and investment policies.

According to him, the focus will be on key sectors, including agriculture, mining and solid minerals, power and renewable energy, oil and gas, construction and manufacturing as well as ICT and SMEs.

According to Tegbe, the sectors align with Tinubu’s economic vision and will play a pivotal role in shaping Nigeria’s industrial and economic transformation.

Tegbe said relevant government agencies are actively working to ensure the commitments materialise in ways that genuinely benefit Nigeria’s economy and people.

Beyond trade and investment, Tegbe emphasised the importance of technology transfer and knowledge sharing between Nigeria and China. He stated that Nigeria’s goal is not just to attract Chinese companies to execute projects, but to learn from their expertise to achieve similar technological advancements indigenously.

Encouraging Chinese firms to take a transformational approach to doing business in Nigeria, Tegbe stressed that scale and sustainability would be critical in ensuring long-term economic benefits.

He added that the upcoming 2025 Bilateral Summit is expected to play a crucial role in defining the future of Nigeria-China relations.Tegbe said the proposed legislative and policy reforms are designed to remove existing barriers, attract more investment, and create a more balanced trade relationship that benefits both countries.