APC hails China Naira deal as a major win for Nigeria’s economy, easing dollar pressure and boosting President Tinubu’s economic recovery drive

The China Naira deal has been praised as a bold leap in Nigeria’s economic diplomacy by the Lagos State Chapter of the All Progressives Congress (APC), which described it as a major win for the country’s international trade and economic recovery efforts under President Bola Tinubu.

Also read:Dollar to Naira Black Market Rate Falls Today Sept 6

In a statement released Monday, APC spokesman Seye Oladejo said the policy will significantly reduce Nigeria’s overdependence on the US dollar for foreign trade, providing swift relief for businesses, importers, and manufacturers.

“China remains one of Nigeria’s largest trading partners. The ability to settle transactions directly in Naira means lower costs, faster payments, and improved ease of doing business,” Oladejo stated.

The party highlighted multiple benefits of the China Naira deal, including:

• Reduced forex pressure on the Naira
•  Lower transaction costs and faster settlements
•  Cheaper imports of essential goods and machinery
•  Better access for Nigerian exporters into China’s vast markets
•  Incentives for local manufacturers to scale up production

According to Oladejo, the policy is expected to attract new foreign direct investment, restore investor confidence, and align Nigeria with the global shift toward a multipolar financial system where local currencies play a stronger role in trade.

Calling it a “visionary achievement,” the APC applauded the Central Bank of Nigeria and the Ministry of Finance for facilitating the agreement.

It urged Nigerian businesses, exporters, and financial institutions to leverage the opportunity for growth.

Also read:17 Countries Secure Spot for 2026 World Cup Glory

Taking aim at critics, Oladejo claimed the move “shatters their doomsday narrative,” and proves Nigeria is on the right path to economic recovery under Tinubu’s leadership.