China and Nigeria Set to Sign Zero-Tariff Agreement for Nigerian Exports To China
China and Nigeria are set to sign a zero-tariff agreement that will open Chinese markets to Nigerian exports, strengthening trade ties between the two countries.
The agreement aims to boost cooperation in manufacturing, trade, and investment.
As the United States-Africa relationship continues to go from bad to worse, China is offering zero-tariff access for African countries, supporting economic partnerships across the continent.
Nigeria’s exports to China are currently valued at approximately $2.03 billion, with crude oil and related products making up the bulk of shipments.
The zero-tariff agreement will provide Nigerian exporters with easier market access to China’s economy and in return increase Nigeria’s export earnings.