WATCH THE VIDEO HERE The trade volume between Nigeria and China in 2024 exceeded $20 billion, according to Chinese Ambassador to Nigeria, Yu Dunhai. Speaking during the Chinese Lunar New Year celebration in Abuja on Saturday, Yu emphasized Nigeria’s significant role as a major African country with global influence and a key partner in BRICS. He expressed optimism about enhancing trade relations and implementing agreements from the Forum on China-Africa Cooperation (FOCAC), which aims to benefit the citizens of both nations. He also underscored Nigeria’s status as China’s largest engineering contract recipient and its position as the second-largest export market in Africa Similarly, Yan Yuqing, China’s Consul-General in Lagos, noted that China’s gross domestic product grew by 5.0% in 2024, driving both qualitative economic development and reasonable quantitative growth. This shows that the trade volume between Nigeria and China witnessed a significant decline of 11.5% in 2024 compared to the previous year. 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.
Nigeria-China trade volume hit $20 billion in 2024 – Chinese ambassador
