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China Ambassador Hails Tinubu’s Economic Reforms, Reveals $18bn Bilateral Trade Surge
China Ambassador Hails Tinubu’s Economic Reforms, Reveals $18bn Bilateral Trade Surge
The Chinese Ambassador to Nigeria, Yu Dunhai, has commended President Bola Ahmed Tinubu’s economic reforms, describing them as important measures that have supported Nigeria’s economic recovery, improved the business environment and opened new opportunities for stronger economic cooperation between Nigeria and China.
The ambassador made the remarks on Wednesday in Abuja during a reception organised to mark the 77th anniversary of the founding of the People’s Republic of China, where he highlighted growing diplomatic relations, expanding bilateral trade and opportunities for collaboration in technology, industrialisation and other strategic sectors.
Yu said China welcomed the Tinubu administration’s structural reforms, macroeconomic stabilisation measures and efforts to create a more conducive business environment, noting that the policies had helped establish favourable conditions for deeper economic engagement between the two countries.
“We highly commend President Tinubu’s structural reforms, macroeconomic stabilisation, and business environment enhancements, which have boosted Nigeria’s economic recovery and created optimal conditions for deeper cooperation,” he said.
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The ambassador also disclosed that bilateral trade between Nigeria and China reached $18 billion in the first half of the year, representing a 35 per cent increase, an indication of the expanding commercial relationship between Africa’s most populous country and the Asian economic powerhouse.
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He further revealed that Chinese imports from Nigeria increased by 81 per cent during the same period, highlighting growing opportunities for Nigerian products in the Chinese market.
According to Yu, recent agreements on economic partnerships and aquatic exports have provided institutional support for expanding trade, strengthening commercial exchanges and creating additional opportunities for businesses in both countries.
He emphasised that the agreements would help consolidate existing economic ties while providing a framework for exploring new areas of cooperation capable of delivering mutual benefits.
Looking towards the future, the Chinese envoy said his country was prepared to align its 15th Five-Year Plan with the Tinubu administration’s Renewed Hope Agenda, particularly in industrialisation, the digital economy, and the development of green and blue economies.
He explained that these sectors presented significant opportunities for both countries to deepen economic collaboration, promote innovation, strengthen productive capacity and pursue sustainable development.
“Our future cooperation holds boundless potential,” he said, while inviting Nigeria to join the World Artificial Intelligence Cooperation Organisation as part of efforts to strengthen collaboration in technological development.
Yu’s remarks underscored China’s interest in expanding cooperation with Nigeria beyond traditional trade and infrastructure investments to include emerging technologies, artificial intelligence and other innovation-driven sectors that are increasingly shaping the global economy.
The ambassador also described relations between Nigeria and China as increasingly close, noting that the two countries were celebrating 55 years of diplomatic relations.
“Under the strategic leadership of President Xi Jinping and President Bola Ahmed Tinubu, our relationship has entered the fast lane,” he said.
Reflecting on his two years of diplomatic service in Nigeria, Yu expressed admiration for the resilience, determination and adaptability of Nigerians, noting that his travels across different parts of the country had given him a deeper understanding of the people, their culture and their capacity to navigate changing circumstances.
He said his experiences had strengthened his appreciation of Nigeria’s potential and the importance of sustained engagement between the two nations.
The ambassador also highlighted China’s economic performance, disclosing that the country’s gross domestic product grew by 4.7 per cent in the first half of the year.
He attributed the performance partly to the expansion of emerging industries, including artificial intelligence, robotics and innovative pharmaceuticals, which have become important drivers of China’s economic transformation.
Yu further drew attention to China’s initiatives in data and artificial intelligence, alongside its zero-tariff treatment for 53 African countries, describing such measures as important opportunities for strengthening trade and economic relations with African nations.
The zero-tariff initiative, in particular, offers opportunities for African exporters to explore the Chinese market, potentially supporting market access, trade diversification and stronger commercial partnerships.
Speaking at the reception, the Director-General of the Nigeria-China Comprehensive Strategic Partnership and Minister of Power, Joseph Tegbe, said the anniversary provided an opportunity to reflect on the longstanding relationship between both countries and consider ways to strengthen cooperation for the future.
Tegbe noted that China’s contributions through investments, financing and engineering expertise had played an important role in the development of major infrastructure projects in Nigeria.
Among the projects he highlighted were the Lekki Deep Sea Port, railway modernisation initiatives and the Zungeru Hydroelectric Power Station, which reflect the scope of cooperation between the two countries in transportation, energy and economic infrastructure.
He also acknowledged bilateral collaboration in healthcare, people-to-people exchanges and technical trade, stressing the importance of maintaining partnerships that support national development and improve economic opportunities.
The Nigerian minister reaffirmed the country’s commitment to the One-China policy, while commending China’s zero-tariff programme for Nigerian producers.
His remarks reinforced Nigeria’s interest in sustaining its diplomatic relationship with Beijing while exploring opportunities to expand trade, attract investments and strengthen economic cooperation across strategic sectors.
Also speaking at the event, the National Chairman of the Allied Peoples Movement and Chairman of the Inter-Party Advisory Council, Yusuf Dantalle, urged Nigerians to draw valuable lessons from China’s development experience.
Dantalle attributed China’s remarkable progress to sacrifice, political stability, commitment to national development and the prioritisation of the public good.
He stressed that Nigeria could benefit from examining the policies and development strategies that had helped China strengthen its economy and expand its global influence.
The political leader also called for sustained diplomatic and economic cooperation between Nigeria and China, emphasising the importance of partnerships that promote development, stability and mutual prosperity.
The anniversary reception highlighted the growing significance of Nigeria-China relations at a time when Nigeria is pursuing economic reforms and seeking stronger international partnerships to stimulate investment, expand trade and accelerate development.
With bilateral trade recording substantial growth, diplomatic engagement continuing to deepen and both countries exploring cooperation in emerging technologies and strategic industries, Nigeria and China appear poised to expand their partnership across several critical areas of economic development.
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