Chairman of the Committee on Nigeria-China Bilateral Business, Trade and Investment Summit, Hon. Jafar Yakubu, has emphasised the crucial need to address the “Ease Of Doing Business” between Nigeria and China.
He stated this during the unveiling of the Nigeria-China Bilateral Business, Trade and Investment Summits 2025, held in Abuja on Tuesday.
Yakubu, in a significant move to strengthen economic ties, addressed a gathering of distinguished guests and leaders who convened to discuss future collaborations.
He noted that the newly-established Nigeria-China Relations Committee was formed to acknowledge China’s growing influence in the global economy and its substantial impact on Nigeria’s economic development.
“Through our service delivery, we identified ‘Ease Of Doing Business’ as a major obstacle hindering seamless business, trade and investment partnerships between Nigeria and China,” he stated.
Yakubu highlighted the urgent need to improve the business environment in order to foster collaboration and investment.
He outlined the vision of the committee, which he said included presenting credible investment opportunities, fostering collaboration and promoting products.
“Our focus areas include agriculture, mining and solid minerals, power and renewable energy, oil and gas, construction and civil works, manufacturing,” he explained.
He stated that the identified key sectors will be pivotal in the upcoming summit, scheduled for the second and third quarters of 2025 in Nigeria and China, respectively.
Yakubu also revealed that the committee has engaged Merited Negotiating Consulting Firm to organise the two-legged summit, aimed at producing a robust report that will inform legislative agenda in the National Assembly.
“This initiative will establish a feedback mechanism designed to enhance the ease of doing business between Nigeria and China.
“At this point, may I request your support, collaboration and sponsorship for the success of this strategic summit,” he added, expressing gratitude for the leadership’s commitment to improving bilateral relations.
Executive Vice-Chairman and CEO of Merited Negotiation Consulting, Kunle Yusuff (MON), who also spoke at the event, elaborated on the firm’s role in facilitating the summits.
“We specialise in business negotiation, strategic development, trade and investments, and have successfully hosted three major global events,” he explained.
Yusuff restated the summit’s objectives, highlighting the need to address challenges faced by both Nigerian and Chinese businesses.
He said: “We aim to identify and resolve obstacles encountered by Chinese companies in Nigeria and Nigerian businessmen dealing with China.”
In his remarks, Director-General and Global Liaison for the Nigeria-China Strategic Partnership, Joseph Olasunkanmi Tegbe, expressed appreciation to the Nigeria/China Relations Committee for its efforts.
“The unwavering commitment to removing all impediments to fostering closer economic ties between Nigeria and China is truly commendable,” Tegbe remarked, recognising the importance of the committee’s work in addressing trade barriers.
He also highlighted the elevation of the Nigeria-China relationship to a comprehensive strategic partnership in September 2024, adding that: “This marks a new dawn in their affiliation.”
Tegbe addressed the current challenges hindering trade, including regulatory bottlenecks and bureaucratic inefficiencies.
He affirmed the government’s commitment to overcoming these issues through the establishment of the Office of the Nigeria China Strategic Partnership (NCSP) within the Presidency.
“This summit also seeks to address some of these challenges through a legislative agenda for 2025, with the ultimate goal of enacting policies and laws that will enhance the Nigeria-China developmental relationship,” he added.
Tegbe underscored the significance of global partnerships for sustainable development, quoting Chinese President Xi Jinping’s commitment to sharing development experiences.
“China is ready to share its development experience with other developing countries and provide assistance to the best of its ability,” he stated, urging Nigeria to leverage the support to further its developmental goals.
He emphasised that strategic alliances were essential for achieving long-term sustainable development and that Nigeria stood to benefit enormously from close cooperation with China.
Unveiling of the summit was attended by House of Representatives Standing Committee chairmen, captains of industries; Honourable Minister of Foreign Affairs, Ambassador Yusuf Maitama Tuggar OON; Chinese Ambassador to Nigeria His Excellency, Yu Dunhai; Director General, China General Chamber of Commerce, Dr. Tristan Cui.
Also present were Director General, Presidential Enabling Business Environment Council, Princess Zahrah Mustapha Audu; Executive Secretary Nigerian Investment Promotion Commission, Aisha Rimi; SSA to the President on IT and Development and 50 CEOs/MDs of Chinese companies.
