Nigeria courts China for electric vehicle manufacturing investments

Nigeria is courting China’s support to establish electric vehicle (EV) assembly plants as part of its broader push for industrialisation. The move aligns with President Bola Tinubu’s agenda to diversify the economy and reduce dependence on oil.

Minister of State for Foreign Affairs, Amb. Bianca Odumegwu-Ojukwu, made the appeal during a visit from Chinese Ambassador Yu Dunham, emphasizing the need for deeper economic collaboration. China, Nigeria’s largest trading partner, accounted for over $21 billion in trade volume in 2024, with Nigeria’s exports to China rising by 25% year-on-year.

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“We seek China’s partnership in building EV assembly plants to position Nigeria as a regional manufacturing hub,” Odumegwu-Ojukwu stated. She also called for China’s support in digital technology, renewable energy, and agriculture, stressing that food security remains a priority.

China-Nigeria Ties Deepen with Renewed Investments

China has played a significant role in Nigeria’s infrastructure development, funding projects such as the Lekki Deep Sea Port, railway modernization, and industrial parks. Ambassador Yu reiterated China’s commitment to strengthening ties, highlighting the $2 billion currency swap deal aimed at boosting trade and financial cooperation.

“We see Nigeria as a key partner in Africa’s economic transformation. Our collaboration in manufacturing and infrastructure will continue to grow,” Yu stated. He also backed Nigeria’s bid for G20 membership, signaling Beijing’s intent to elevate the country’s global economic standing.

To bolster trade, Odumegwu-Ojukwu urged China to extend its tariff exemptions, already granted to 33 African nations, to Nigerian exporters. This, she argued, would enhance trade flows and deepen economic integration.

Strategic Shift Towards Industrialisation

Beyond trade, cultural exchanges between both nations are expanding. More Nigerian universities are integrating Chinese language studies, reflecting the growing economic interdependence.

Nigeria’s push for EV production aligns with a global shift towards clean energy. With EV sales in Nigeria ranging from ₦12 million ($15,000) to ₦150 million ($187,000), local assembly plants could significantly lower costs and drive adoption.

The discussions with China mark another step in Nigeria’s drive to reposition itself as a manufacturing powerhouse in Africa, leveraging partnerships to accelerate industrial growth.