The trade volume between Nigeria and China exceeded an impressive $20 billion in 2024, showcasing the deepening economic ties between the two nations.
Speaking on Saturday during the celebration of the 2025 Chinese Lunar New Year at the Chinese Cultural Centre in Abuja, the Chinese Ambassador to Nigeria, Yu Dunhai, highlighted Nigeria’s pivotal role in China’s trade partnerships within Africa.
Key Highlights
Ambassador Yu stated, “Last year, the trade volume between China and Nigeria surpassed $20 billion. Nigeria stands as our largest engineering contract partner, the second-largest export market, and the third-largest trade partner in Africa.”
Expressing optimism for future growth, he added, “We aim to increase our trade volume even higher because of the immense potential we see in Nigeria.”
The ambassador also emphasized that the bilateral relationship was elevated to a comprehensive strategic partnership following President Xi Jinping’s state visit to Nigeria.
Cultural and Strategic Collaborations
Beyond trade, Ambassador Yu underlined the importance of cultural and people-to-people exchanges in strengthening ties between the two nations.
The Permanent Secretary of the Federal Ministry of Arts, Culture, Tourism, and Creative Economy, Oraeluno Obi Raphael, praised the growing collaboration, particularly in the cultural and tourism sectors.
He remarked, “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.”
Looking Ahead
With the strong foundation of economic and cultural partnerships, both nations are poised to explore new opportunities to bolster mutual growth and prosperity in the years ahead.
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