The Director General of the Nigeria-China Strategic Partnership (NCSP), Joseph Olasunkanmi Tegbe, has disclosed that “recent” engagements between the two countries have secured over $20 billion in investment commitments across key sectors of Nigeria.
Tegbe announced this development in a statement issued by the NCSP on Friday, following a media interactive session held in Abuja.
He stressed the need to strengthen bilateral collaboration between Nigeria and China as part of ongoing efforts to drive Nigeria’s industrialisation and economic growth.
According to the statement, Tegbe highlighted the NCSP’s ongoing commitment to coordinating investments, facilitating stakeholder engagements, and ensuring due diligence to guarantee that Nigeria-China collaborations yield tangible, long-term benefits.
He stated, “Recent engagements have secured over $20 billion in investment commitments, focusing on critical sectors such as agriculture, automotive manufacturing, mining, steel production, and energy.”
“Our focus is to ensure that Nigeria not only implements FOCAC projects efficiently but also leverages Chinese expertise, technology, and financing to reactivate Nigeria’s manufacturing and industrial sectors,” he stated.
He said the NCSP will continue to align with President Bola Ahmed Tinubu’s Renewed Hope Agenda, aimed at fast-tracking national development and positioning Nigeria as Africa’s industrial powerhouse.
Naijaonpoint previously reported in January 2025 that the trade volume between Nigeria and China in 2024 exceeded $20 billion, according to the Chinese Ambassador to Nigeria, Yu Dunhai.
China and Nigeria have a long-standing trade relationship, with China being one of Nigeria’s largest export markets globally. China’s manufactured goods dominate the trade relationship, while Nigeria’s main exports to China are primarily primary products.