The Nigerian government has secured more than $20 billion in investment commitments from China to boost strategic sectors including agriculture, automotive, energy, steel, and mining.
According to Joseph Tegbe, Director General of the Nigeria-China Strategic Partnership (NCSP), the funds are part of a newly established comprehensive strategic partnership between the two countries, with initial disbursements expected by the end of the year.
The NCSP, created under the Forum on China-Africa Cooperation (FOCAC), aims to harness Chinese expertise, capital, and technology to strengthen Nigeria’s industrial base and transform it into a major manufacturing hub in Africa.
The partnership also includes efforts to open the Chinese market to Nigerian exports, aligning with President Bola Tinubu’s “Renewed Hope” agenda focused on economic transformation and diversification.
