Nigeria has signed a Framework Agreement with China, marking a significant step in strengthening economic cooperation between the two nations. The agreement, signed by Minister of Industry, Trade and Investment Dr. Jumoke Oduwole and China’s Minister of Commerce Wang Wentao, focuses on key areas such as trade facilitation, inclusive and green growth, resilient supply chains, and the digital economy.

The partnership is expected to boost Nigeria’s industrialization efforts, create jobs, and diversify exports, positioning the country as a leading economic hub in Africa. With trade between Nigeria and China reaching a historic high of $28 billion in 2024, representing a 28% year-on-year growth, the agreement is seen as a major boost to Nigeria’s economic growth prospects.

The agreement is part of Nigeria’s broader strategy to expand trade and investment partnerships, enhance competitiveness, and align with continental initiatives. Dr. Oduwole emphasized that the partnership will strengthen Nigeria’s position in regional and global value chains, while ensuring inclusive and sustainable growth.