Amid rising optimism of further collaboration between China and Nigeria, the trade volume between the two countries exceeded $20 billion in 2024, the Chinese Ambassador to Nigeria, Yu Dunhai, has said.
The Matrix reports that China and Nigeria have a long-standing trade relationship, with China being one of Nigeria’s largest export markets globally. China’s manufactured goods dominate the trade relationship, while Nigeria’s primary products are the main exports to China.
To underscore this relationship, during Chinese Foreign Minister Wang Yi’s recent visit to Nigeria, he highlighted three key achievements in China-Nigeria bilateral relations: a new leap in positioning the relations, a new platform created through solidarity and collaboration, and a new height in international cooperation.
Also, recently, President Bola Ahmed Tinubu demanded an increase in the currency swap deal between both countries.
Reacting to these developments, Yu during the celebration of the 2025 Chinese Lunar New Year at the Chinese Cultural Centre in Abuja highlighted Nigeria’s significance in China’s trade partnerships across Africa.
“Last year, the trade volume between China and Nigeria exceeded $20 billion. Nigeria is our largest engineering contract partner, the second-largest export market, and the third-largest trade partner in Africa,” he said.
He expressed optimism about further collaboration between the two nations, adding, “We aim to increase our trade volume even higher because of the immense potential we see in Nigeria.”
The ambassador also emphasised the broader relationship between the two nations, which was recently elevated to a comprehensive strategic partnership following President Xi Jinping’s state visit to Nigeria.
He noted the importance of cultural and people-to-people exchanges in strengthening bilateral ties.
The Permanent Secretary of the Federal Ministry of Arts, Culture, Tourism, and Creative Economy, Oraeluno Obi Raphael, praised the growing economic and cultural partnership between the two countries, describing China’s contributions to Nigeria’s cultural and tourism sectors as impactful.
“Collaborative efforts in trade, tourism, and the creative economy have not only enriched our societies but also opened avenues for economic growth and mutual prosperity,” Raphael said.
