Stakeholders at an international seminar in Lagos have called for strategic measures to enable Nigeria to fully benefit from China’s zero-tariff policy for products from 53 African countries.
They say the policy could boost Nigeria’s exports, attract investment and support industrialisation, but warn that poor infrastructure, high production costs and limited value addition could prevent the country from taking full advantage of the opportunity.
Chinese Consul General, Yan Yuqing, said the policy is already boosting China-Africa trade, with Nigeria recording increased exports to China.
NIIA Director-General, Professor Ehosae Oshagha, urged African countries to assess the policy critically and maximise its benefits through regional cooperation.
MUST READ: Nigeria, Germany Pledge Deeper Strategic Partnership
LCCI Director of Research and Advocacy, Sunnie Omeiza-Michael, and Assistant Comptroller-General of Customs, Gambo Aliyu, said Nigeria must improve production, value addition and trade infrastructure to fully benefit.
The stakeholders say stronger industries and export capacity are key to turning the policy into sustainable economic gains.
(Follow AIT News on WhatsApp, AfricaIndependentTV on YouTube, ait_online on Facebook and X (Formerly Twitter), and officialait on TikTok, Instagram and Threads)
(Editor: Ebuwa Omo-Osagie)
