By Ismaeel Aleem
The Lagos State Chapter of the All Progressives Congress (APC) has hailed China’s decision to accept the Nigerian Naira for transactions as a major milestone in the nation’s economic diplomacy and a significant boost to recovery efforts under President Bola Tinubu’s administration.
In a statement issued on Monday by the APC state spokesman, Seye Oladejo, described the policy as a game-changer that will alleviate Nigeria’s overreliance on the US dollar for international trade.
He noted it would provide immediate relief to businesses, importers, and manufacturers by easing pressure on the foreign exchange market, strengthening the Naira, and promoting greater economic stability.
“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.
It will also make imports of essential goods, machinery, and technology cheaper while opening wider access for Nigerian exports into Chinese markets,” Oladejo said.
Oladejo added that the policy would encourage local producers to scale up operations, confident that their goods can now penetrate one of the world’s largest consumer markets without heavy dollar dependence.
The APC argued that this development would enhance global investor confidence, attract new foreign direct investments, and position Nigeria within the emerging multipolar financial system, where developing economies assert their currencies in trade.
APC takes swipe at PDP
Taking a swipe at the opposition, Oladejo asserted that the breakthrough “shatters their doomsday narrative,” affirming that under Tinubu, Nigeria is steadfastly advancing toward economic recovery and growth.
The party congratulated President Tinubu, the Central Bank of Nigeria, and the Ministry of Finance for this “visionary achievement.”
It urged manufacturers, traders, exporters, and financial institutions to fully leverage the benefits of this economic breakthrough to drive national prosperity.
