Nigeria is concentrating on selling “finished products” to China and other countries, according to Yusuf Tuggar, the country’s minister of foreign affairs.
During President Bola Tinubu’s state visit to China and his attendance at the 2024 Forum on China-Africa Cooperation Summit, which took place from September 4-6, 2024, this was revealed in a video that was posted on his official X page on September 6, 2024.
This statement follows the recent signing of many Memoranda of Understanding (MoUs) in Beijing between Nigeria and China on topics including the Belt and Road Initiative, nuclear energy cooperation, human resource development, and media exchange.
President Tinubu highlighted Nigeria’s economic potential while he was in China, pointing out that it has the greatest economy and largest population in Africa.
He emphasized that Nigeria’s young population might spur economic expansion in a number of industries and increase trade prospects.
“Nigeria holds great potential as the country with the largest population in Africa and is the biggest economy, with a very young population that can drive economic growth and cross-sectoral programs,” President Tinubu said.
In the most recent video, Tuggar downplayed worries about “exploitation in Nigeria’s relationship with China,” pointing out that both countries have export-oriented objectives that are very obvious.
“We’re not children, so there’s no need to look at us from an infantile perspective. We know exactly what we want, and we seek partnerships with countries like China, who understand that we don’t want to remain exporters of primary resources,” he said.
Nigeria’s main objective in international commerce, according to the minister, is to export completed goods to China and other desirable nations.
“We want to add value, create jobs, and manufacture. Our aim is to export finished products to countries like China,” he asserted.
The minister asserts that China is the world’s biggest market and that China is aware of Nigeria’s willingness to participate in joint finished goods exports with other nations.
“Our approach is one of strategic autonomy,” he added.
Tuggar emphasized that Nigeria will keep looking to collaborate with nations in order to further both nations’ interests.
“Nigeria seeks partners like China, who understand our goal to move beyond exporting raw materials. With our strategic autonomy, we are ready to collaborate with all nations to drive development and growth,” Tuggar stressed.
