The Chairman, House of Representatives 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 in Abuja on Tuesday during the unveiling of the Nigeria-China Bilateral Business, Trade, and Investment Summits 2025.
In a significant move to strengthen economic ties, he addressed a gathering of distinguished guests and leaders who convened to discuss future collaborations.
While speaking, Yakubu 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, highlighting the urgency of improving the business environment to foster collaboration and investment.
Yakubu outlined the committee’s vision, which includes 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 detailed, identifying key sectors that will be pivotal in the upcoming summits scheduled for the second and third quarters of 2025 in Nigeria and China, respectively.
He also revealed that the committee has engaged Merited Negotiating Consulting Firm to organize these summits, aimed at producing a robust report for the National Assembly that will inform legislative agenda.
“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.
Following Yakubu, the Executive Vice-Chairman and CEO of Merited Negotiation Consulting, Kunle Yusuff MON, elaborated on the firm’s role in facilitating the summits.
“We specialize in business negotiation, strategic development, trade, and investments, and have successfully hosted three major global events,” he explained, emphasizing the expertise brought to the table.
Yusuff reiterated the summit’s objectives, highlighting the need to address challenges faced by both Nigerian and Chinese businesses.
He stated, “We aim to identify and resolve obstacles encountered by Chinese companies in Nigeria and Nigerian businessmen dealing with China.”
In his remarks, the Director-General and Global Liaison for the Nigeria-China Strategic Partnership, Joseph Olasunkanmi Tegbe, expressed profound appreciation for the efforts of the Nigeria/China Relations Committee.
“His unwavering commitment to removing all impediments to fostering closer economic ties between Nigeria and China is truly commendable,” Tegbe remarked, recognizing 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 ongoing challenges hindering trade, such as 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, however, 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 this support to further its developmental goals.
He emphasised that strategic alliances are 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 Federal House of Representatives standing committee Chairmen, various capitan of Industries, and The Honourable Minister for Foreign Affairs Ambassador Yusuf Maitama Tuggar OON, The Chinese Ambassador to Nigeria His Excellency, Yu Dunhai, Director-General, Nigeria-China Strategic Partnership and Global Liaison , Dr. Joseph Tegbe, Director General, China General chamber of commerce, Dr. Tristan Cui, The Director General, Presidential Enabling Business Environment Council, Princess Zahrah Mustapha Audu, The Executive Secretary Nigerian Investment Promotion Commission, Aisha Rimi, SSA to the President on IT and Development, 50 CEOs/MDs of Chinese Companies.
