NACCIMA signs China partnership to attract FDI, deepen trade ties
The Nigeria Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has signed a tripartite Memorandum of Understanding (MoU) with China’s Linyi Wholesalers Federation and TTC Hydra. . .
The Nigeria Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has signed a tripartite Memorandum of Understanding (MoU) with China’s Linyi Wholesalers Federation and TTC Hydra Limited to attract foreign direct investment (FDI) into Nigeria and strengthen trade between the two countries. The agreement was signed at the ongoing NACCIMA Infrastructure Conference (INFRACON 2026) in Abuja. The partnership is expected to provide Nigerian businesses with direct access to Chinese supply chains while creating new opportunities for Nigerian exports to the Chinese market. It is also designed to facilitate Chinese investment in Nigeria, particularly in manufacturing, agro-processing and infrastructure. The MoU builds on NACCIMA’s investment mission to Linyi City in China’s Shandong Province in April 2026, where the Nigerian delegation, led by the association’s Director-General, Sola Obadimu, held discussions with government officials and business leaders on expanding trade and investment cooperation. Speaking after the signing, NACCIMA President, Engr. Jani Ibrahim, described the agreement as a major step towards deepening economic relations between Nigeria and China through private sector collaboration. The Linyi Wholesalers Federation, which represents more than 5,000 manufacturers and wholesalers, expressed interest during the April engagement in establishing manufacturing facilities, overseas warehouses and exhibition platforms in Nigeria. These commitments have now been formalised through the MoU. ALSO READ:Ododo assures Bassa communities of road projectsUnder the agreement, the Chinese federation will organise the supply and shipment of products across sectors, including building materials, agricultural machinery, automotive spare parts, construction equipment, solar and renewable energy technologies, household appliances and electronics. TTC Hydra Limited will coordinate the implementation of the partnership, leveraging its expertise in Nigeria’s power infrastructure sector and cross-border trade between the two countries. The signing ceremony was attended by NACCIMA Director-General, Sola Obadimu; Ambassador Janet Olisa; First Deputy President of the Borno Chamber of Commerce, Industry, Mines and Agriculture (BOCCIMA), Alhaji Goni Dunoma; President of the Linyi Wholesalers Federation, Mr Sun Bao’an; Executive Council Member of the federation, Mr Wang Yihao; and representatives of TTC Hydra Limited, Mr Bailey Olujinmi Thomas and Mr Du Yaowen. Beyond trade, the parties committed to promoting two-way investment by facilitating Chinese companies seeking to establish businesses, joint ventures and long-term procurement partnerships in Nigeria. To drive implementation, the partners established a Project Implementation Committee comprising representatives of the three organisations. The committee will oversee the execution of projects under the agreement and coordinate future commercial arrangements. The MoU takes immediate effect for an initial two-year period, with an option for renewal. It also provides a framework for negotiating detailed commercial agreements and includes safeguards to protect the interests of all parties. The signing comes as stakeholders at INFRACON 2026 discuss strategies for mobilising private capital to bridge Nigeria’s infrastructure financing gap. The agreement also builds on previous diplomatic and business engagements between Nigeria and China, including discussions between Chinese Ambassador Yu Dunhai and NACCIMA leadership aimed at strengthening bilateral economic cooperation. Stakeholders said the partnership is expected to encourage greater Chinese investment in Nigeria, promote local manufacturing, reduce import dependence and create jobs through private sector-led industrialisation. WATCH TOP VIDEOS FROM NIGERIAN TRIBUNE TVBack to School, Back to Business A Fresh StartRelationship Hangout: Public vs Private Proposals – Which Truly Wins in Love?“No” Is a Complete Sentence: Why You Should Stop Feeling GuiltyRelationship Hangout: Friendship Talk 2025 – How to Be a Good Friend & Big Questions on FriendshipPolice Overpower Armed Robbers in Ibadan After Fierce StruggleGet real-time news updates from Tribune Online! Follow us on WhatsApp for breaking news, exclusive stories and interviews, and much more. Join our WhatsApp Channel now