The Minister of Foreign Affairs, Yusuf Tuggar has called on Nigeria to modernize its business landscape by removing obstacles to investment and fostering innovation.
This is as the Chairman of the House of Representatives Committee on Nigeria-China parliamentary relation, Hon Jafaru Yakubu has emphasized the importance of strengthening economic ties between Nigeria and China.
These among other issues were part of the discussions at the unveiling of the Nigeria-China Bilateral Business, Trade and Investment Summit 2025 in Abuja.
The summit is aimed at a significant milestone in the economic partnership between the two nations to present credible investment opportunities, showcase market-ready projects, and foster collaboration between Nigerian and Chinese businesses.
Represented by the Director of Economy, Trade, and Investment at the Ministry of Foreign Affairs, Amb. Bolaji Alade Akinremi, the Minister highlighted the need for Nigeria to prepare for growth by removing barriers that hinder investment, innovation, and sustainable development.
He said: “We must shift from outdated models to forward-thinking, technology-driven business ecosystems,” he said, reiterating the urgency of creating a business-friendly environment for both local and international investors.
Akinremi further highlighted the critical role the Nigeria-China Relations Committee has played in solidifying ties between the two countries.
He stated that “a new chapter in Nigeria-China relations is now. We must work together to unlock Nigeria’s full potential, with a clear focus on the ease of doing business.”
Representing the Chinese Embassy, Economic and Trade Commercial Counselor Mr. Wang Ying-Ki reiterated the importance of Nigeria as China’s largest trade, investment, and infrastructure partner in Africa.
He praised the recent state visit of President Bola Tinubu to China, where both leaders discussed strengthening their nations’ economic ties.
“The agreement they reached mobilized the business community and set a guideline for enhancing our cooperation,” Wang noted, highlighting China’s commitment to infrastructure development and investment in Nigeria.
Citing the successes of the Ogun Free Trade Zone and Nike Free Trade Zone, Wang affirmed China’s continued investment in Nigeria.
“The infrastructure we’ve built laid a solid foundation for Nigeria to improve its investment environment. It is my honor to cooperate with you all, and my office is at your service,” he said, inviting more Chinese businesses to invest in Nigeria.
Chairman of the House of Representatives Committee on Nigeria-China parliamentary relation, Hon Yakubu said :”The Nigeria-China Relations Committee was established to acknowledge the growing influence in the global economy and its significant impact on Nigerian economic development. Through our service delivery, we identify ease of doing business partnership between Nigeria and China.
“To address this challenge, the committee has engaged merited negotiation consulting firms as a consultant, to organize summits in Lagos and China, and submit a robust report to the National Assembly.
“This event aims to, one, present credible investment opportunities, showcase market-ready projects for investors’ engagement, foster collaboration, strengthen business environment through partnership, promote product-facilitated connection between investors and financial institutions.
“Other focuses include agriculture, mining and solid minerals, power and renewable energy, oil and gas industry, construction and civil work, and manufacturing.
The Executive Vice-Chairman/CEO
Merited Negotiation Consulting. Consultant to Committee on Nigeria-China Relations, Kunle Yusuff, explained that the summit will provide a platform to identify the sectors where Chinese companies operate, spanning agriculture, mining, solid minerals, renewable energy, oil and gas, construction, and more.
He said that the primary objective is to establish a feedback mechanism that will allow the government to understand the challenges Chinese companies face and propose solutions to improve the ease of doing business in Nigeria.
(Vanguard)
