Foreign Minister Yusuf Tuggar has asked for the lifting of tariffs on Nigerian exports to China to reduce the two countries’ trade imbalance.
He underlined the need for local resource refinement to raise Nigeria’s export value and the necessity of a balanced trade partnership.
Tuggar made special reference to the elimination of taxes on goods like shea butter and cashew nuts, which are important exports from Nigeria to China.
Tuggar said: “We are also concerned about the trade imbalance. It is something that we have addressed and have been pushing.”
“We are saying remove tariffs for all other exports from Nigeria because what China did for the Forum for China Africa Cooperation was to remove tariffs for the least developed countries, and Nigeria is not regarded as a least developed country. Remove all those tariffs for Nigeria so we can address the issue of trade imbalance. These are some of the ongoing discussions.”
This request is made in light of China’s recent decision to impose zero tariffs on 33 African nations in an effort to promote economic cooperation and modernisation throughout the Global South.
