Nigeria-China trade hits $20bn milestone

The trade volume between Nigeria and China surged past $20 billion in 2024, marking a significant milestone in their bilateral relationship.

This announcement was made by the Chinese Ambassador to Nigeria, Yu Dunhai, during the 2025 Chinese Lunar New Year celebration held in Abuja.

Ambassador Yu described 2024 as a “landmark year” for Nigeria-China relations, highlighted by the elevation of their partnership to a comprehensive strategic alliance during President Bola Tinubu’s visit to China. Looking ahead, he expressed optimism for an even stronger relationship in 2025.

He noted that Nigeria holds a pivotal position in China’s African engagements, ranking as its largest engineering contract hub, second-largest export market, and third-largest trade partner on the continent. Yu underscored the importance of cultural and people-to-people exchanges as critical pillars of the bilateral relationship.

Extending New Year wishes, Ambassador Yu reflected on the significance of the Year of the Snake, symbolizing hard work, intelligence, and prosperity, which he hopes will foster peace and development for both nations.

The Permanent Secretary of the Federal Ministry of Art, Culture, Tourism, and Creative Economy, Mr. Oraeluno Raphael Obi, emphasized the historical ties between the two nations, built on mutual respect and shared aspirations. He highlighted the rich cultural heritage of both countries as a solid foundation for collaboration in art, culture, and tourism.

Adding to the discourse, the Deputy Director of Beijing Municipal Bureau of Culture and Tourism, Mr. Xu Zhen Tao, lauded the role of the Belt and Road Initiative in fostering closer ties and promoting global stability.

Professor Sheriff Ghali Ibrahim, Director of the Centre for Contemporary China-Africa Research, pointed out that cultural integration is essential for mutual understanding and peaceful coexistence.

The Lunar New Year event, attended by over 2,000 guests from both nations, featured cultural performances, exhibitions, and a showcase of culinary delights, symbolizing the vibrant traditions of Nigeria and China.