The Abuja Chamber of Commerce and Industry (ACCI) has described China’s zero-tariff policy for African goods as a major opportunity for Nigeria’s exporters.
Agabaidu Jideani, the Director-General of the chamber, said this on Sunday in Abuja while reacting to China’s decision to remove tariffs on goods from 53 African countries.
The policy took effect on May 1.
Mr Jideani described China’s tariff removal on African goods as a strategic opening for exporters, especially Nigerians.
He said the policy would strengthen Africa-China trade relations and enhance market access for Nigerian products.
He said the organised private sector viewed the development with cautious optimism because of its economic implications for Nigeria.
According to him, the initiative provides an opportunity for Nigeria to expand exports into one of the world’s largest consumer markets.
He said that sectors likely to benefit include agriculture, agro-processing, solid minerals and light manufacturing.
Mr Jideani noted that improved market access could enhance the competitiveness of Nigerian products in China.
He said that effective utilisation of the policy could support export diversification and increase foreign exchange earnings.
The ACCI boss, however, warned that market access alone would not guarantee market penetration for Nigerian businesses.
He said exporters must meet strict quality standards, packaging requirements and supply consistency demanded by the Chinese market.
Mr Jideani emphasised the need for government support to help businesses improve production quality and competitiveness.
He also identified high production costs as a major challenge limiting the capacity of Nigerian exporters.
According to him, inadequate infrastructure and logistics bottlenecks remain obstacles to export growth.
He noted that limited access to affordable financing continued to affect local manufacturers and exporters.
Mr Jideani warned that Nigeria must guard against a widening trade imbalance in spite of the export opportunities created by the policy.
He said that there was a need for the country to adopt deliberate measures to strengthen local production and encourage value addition.
He said the country should adopt deliberate measures to strengthen local production, promote value addition and reduce excessive dependence on imports.
The director-general said that boosting domestic industries and improving industrial capacity would help Nigeria maximise export opportunities while protecting local businesses and jobs.
He called for coordinated action between the government and the private sector to maximise the benefits of the initiative.
He also encouraged the government to implement export promotion policies, improve trade facilitation and support businesses on standards certification and customs procedures.
He expressed optimism that effective implementation procedures would enhance Nigeria’s competitiveness in the Chinese market.
(NAN)
