Nigeria, China can exceed current $13bn trade volume annually

The Speaker of the House of Representatives, Rt. Hon. Abbas Tajudeen, on Tuesday called for improved bilateral cooperation and stronger ties between Nigeria and China, saying the two countries should work toward exceeding the current bilateral trade volume of $13 billion.

The Speaker gave the charge in Abuja during an interactive session with the Vice Chairman of the Standing Committee of the National People’s Congress of China, Mr Zhang Qingwei, flanked by the Chinese Ambassador to Nigeria, Mr Yu Dunhai, and other officials of the Chinese Parliament and Embassy in Nigeria.

Speaker Abbas also noted that while the House has over 70 parliamentary friendship groups, the Nigeria-China Parliamentary Friendship Group has remained the most active and beneficial among them.

He said, “The bond between Nigeria and China is one of mutual respect, collaboration, and shared aspirations. Over the years, this partnership has yielded remarkable outcomes in trade, infrastructure development, technology transfer, and cultural exchanges.

“According to recent reports, the trade volume between our countries has surpassed $13 billion annually, making China Nigeria’s largest trading partner. This relationship has facilitated the growth of Nigeria’s economy through investments in critical sectors such as rail, agriculture, and manufacturing.

“We also commend China’s commitment to the Forum on China-Africa Cooperation (FOCAC). The outcomes of the recently concluded summit, held from 4th to 6th September, reaffirmed China’s unwavering dedication to fostering partnerships with African nations, including Nigeria. President Bola Ahmed Tinubu’s participation underscored Nigeria’s commitment to leveraging FOCAC’s framework to advance our national development goals.”

“As the People’s House and the largest legislative and representative body in Nigeria, we are delighted to host you. Your visit reflects the growing friendship between Nigeria and China, which we deeply value,” the Speaker told Qingwei and the other Chinese guests.

The Speaker said the visit provides an invaluable opportunity to explore ways of deepening the ties between the Nigerian National Assembly and the Parliament of China. He noted that the House has already taken proactive steps by establishing the Nigeria-China Friendship Group, which is actively fostering closer ties and promoting bilateral cooperation.

“We are particularly keen on learning from the rich experience of the Chinese Parliament, especially in areas such as legislative processes, institutional strengthening, and socio-economic development,” he said.

Speaker Abbas told the Chinese officials that the Nigerian Government, led by President Bola Ahmed Tinubu, remains committed to advancing Nigeria’s partnership with China. He said this commitment aligns with the shared vision of sustainable development and inclusive growth for the people. He noted that “the National Assembly is ready to provide the legislative framework necessary to facilitate and support initiatives that strengthen Nigeria-China relations.”

The Speaker said, “As we reflect on the achievements of our partnership, let us also envision greater possibilities. I am optimistic that our two parliaments working together can unlock the full potential of our cooperation, benefiting not only our nations but also contributing to global stability and prosperity.

“I propose the following concrete steps to deepen collaboration between the House of Representatives of Nigeria and the National People’s Congress (NPC) of China. First, establishing a structured programme for knowledge-sharing and capacity-building sessions is essential. These sessions should focus on legislative strategies that have contributed to China’s industrialisation and economic development, delivered through seminars, workshops, and technical exchanges.

“Additionally, a formal parliamentary exchange programme should be initiated to facilitate regular visits by delegations from both legislatures. These visits would provide opportunities to study and adopt best practices in policy formulation, particularly in the areas of infrastructure development, renewable energy, and digital economy legislation.”

Speaker Abbas added that the Nigeria-China Friendship Group can be pivotal in negotiating legislative incentives that attract Chinese investments into critical sectors such as manufacturing, technology, and agriculture. He said this can be complemented by efforts to develop a bilateral legislative framework that enhances trade relations, reduces barriers to Nigerian exports, and creates sustainable mechanisms to improve trade balances.

He stressed that collaboration should extend to joint legislative action on key development goals, such as poverty reduction, education, and youth empowerment, drawing from China’s remarkable success in poverty alleviation. These actions could include drafting co-signed resolutions or agreements to guide future legislative initiatives.

Earlier in his speech, Qingwei called for better cooperation between China and Nigeria, especially between the countries’ legislatures. He also sought more bilateral deals to inject fresh ideas from both sides.

The Chinese parliamentarian expressed the interest of his country in having more exchange programmes with Nigeria. “We are willing to step up exchanges,” he said.

 READ MORE FROM: NIGERIAN TRIBUNE

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