A dialogue convened by a Think Tank, Centre for China Studies (CCS) in Nigeria’s Capital, this month urged the Nigeria government to explore the opportunities of the China’s huge market of 1.4 billion people to give traction to her non-oil exports. The Dialogue, with the theme “Maintaining Resilience and Seeking Opportunities in Nigeria-China Cooperation Amidst International Trade Disruptions and Tariff Wars” was attended by government officials, scholars, farmers and Members of the Business community, Trade Union Officials and Students. Minister of Foreign Affairs, Ambassador Yusuf Tuggar described Nigeria-China relationship as perhaps the most pragmatic for the country.
The Minister, who was represented by Amb. Mohammed Haidara said that though Nigeria-China relationship was a later one, but had come with a lot of benefits. He said: “I must say, for Nigeria, our relation with China is maybe a latter-day relation in comparison to our interaction with Europe or the Western world. “Our relations with China have been more pragmatic than relations with the rest. Chinese are very engaging.”
Speaking further he said, “the trade disruptions occasioned by the tariff regime instituted by the United States might perhaps even give us another opportunity, perhaps a greater opportunity for Nigeria; indeed, Africa, to trade more with China, which we all know is a formidable force in the trade and economic era in the world.” He also noted that the Nigerian government will soon come up with its response to the USA trade tariffs. “Let me also say that the Nigerian government, through inter-agency efforts, are also trying to articulate and make a position, a common position, on how to respond within the 90-day window that we’ve been given. “But what I can assure you is that ours is not going to be confrontational. We’re going to be as constructive as possible while responding to these measures.
The Chinese Ambassador to Nigeria, H.E Yu Dunhai, said China and her partners must work together to overcome the challenges of the tariff war. Speaking through a Chinese diplomat, Hairong Dong, Yu said: “This tariff levied by the U.S. government has impacted all its trading partners throughout the world, and also China and, of course, Nigeria.
“We need to work together to sail through this turbulent and torrent waters. As we all know that China and Nigeria have been very close partners, especially in trade. We are key partners. “Our trade volume reached 22 billion U.S. dollars. And it’s among the highest in the African cuntries. And we value our cooperation and coordination with Nigeria,” The Diplomat informed the forum that the Chinese side are “very eager to hear your insights from the business world, from the government, and from the academics, and also from the media, from all the communities in Nigeria to share your insights and your views, to exchange views and your opinions, especially your advice to us on how to move forward, to build a strong relationship, and also to advance our mutually beneficial cooperation in the years ahead.” The Minister of Humanitarian Affairs, Prof. Nentawe Yiwatda, speaking through her Special Assistant, Paul Dawnson, said, “China, Nigeria has a long history. And that China say what it means, and means what it says. So, the relationship of Nigeria and China has been a relationship of trust.”
The Director, Centre for China Studies, Charles Onunaiju, said the dialogue was organised to: “Discuss, examine, interrogate those new opportunities that we assembled here, so amid contradiction and crisis, there is also new opportunities. It is actually the purpose of our meeting today to examine, interrogate, and extrapolate potential opportunities amidst these disruptions and conflicts. He added that Nigeria and China are currently at a historic high of their bilateral cooperation with even more prospects for the frontiers to expand and deepen. Political goodwill and understanding are at its best, with Nigeria unequivocally restating and reaffirming her abiding fidelity to her “One China Policy”, which explicitly recognizes that there is only “One China” in the world and Taiwan is an inalienable part of China. This irreducible and non-negotiable category in Nigeria-China bilateral cooperation opens the express way for fruitful and productive bilateral engagement that leverages on the opportunities of the current time. Nigeria-China bilateral trade was more than 20 billion U.S dollars last year and is set to grow exponentially.
The Forum’s communique said that a break out for Nigeria’s long standing economic policy concerns of diversification looms favorably on the horizon, with assorted range of non-oil exports making their way to the Chinese huge market. The 4th edition of the China-Africa Economic and Trade Expo would hold in China. The mechanism of the Expo has been instituted since 2018 to provide for concessional access of Africa’s agricultural products to Chinese market, creating platform for direct engagement between the key stakeholders of the two sides.
Nigeria’s current challenges of volatility and uncertainty in the foreign exchange market can be considerably ameliorated by non-oil exports. Chinese huge market in the circumstances of volatile international market guarantees and provides for a stable market access for Nigeria. This can happen with a range of policy tools that aims and leverages the access to Chinese huge market. China’s enormous investment in infrastructures through such cooperation mechanism as the Forum on China-Africa Cooperation (FOCAC), Belt and Road Initiative (BRI) has contributed to the structural pillars that enhances resilience and sustainability for Nigeria and other Africa’s economies to withstand the shocks of Washington’s disruptions of International trade.
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