Nigeria-China bilateral trade reaches $12.03bn

The volume of bilateral trade between Nigeria and China has reached $12.03 billion.

The Chinese Ambassador to Nigeria, Cui Jianchun, stated this during the Nigeria-China Cultural week held at weekend in Abuja.

He said Nigeria remains China’s number one trading partner in Africa.

The envoy said: “Our efforts are bringing more benefits to the people of the two countries. In the first half of 2022, our bilateral trade volume reached $12.03 billion, up by 7.1 per cent year-on-year.

“Trade really is important not only to improve the quality of life, it is very important for the country’s economy. Trade is very important for development.

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“So we are encouraging more business in Nigeria to produce a lot of commodities to export to Chinese market and China are the number one consumer market.”

Chi predicted a bigger economic boom in Nigeria with the Lekki Deep Seaport, Zungeru Hydroelectric Power projects, and Dangote refineries, amongst others, set to be commissioned in 2023.”

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