China and Nigeria recorded a trade volume of over $20 billion in 2024, reflecting their strong and growing economic partnership. Chinese Ambassador to Nigeria, Yu Dunhai, shared the figures during a Chinese Lunar New Year celebration in Abuja, highlighting the countries’ deepening collaboration.
“Nigeria, as a major African power and a vital BRICS partner, plays an essential role in our shared progress,” Yu stated. He reiterated China’s commitment to implementing agreements from the Forum on China-Africa Cooperation (FOCAC), ensuring mutual benefits for citizens of both nations.
Bilateral Trade Dynamics and Economic Milestones
Despite a notable 11.5% decline from the $22.6 billion trade volume recorded in 2023, the partnership remains one of Africa’s most significant. Nigeria is China’s largest recipient of engineering contracts in Africa and its second-largest export market on the continent.
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Yan Yuqing, China’s Consul-General in Lagos, pointed out that China’s GDP grew by 5.0% in 2024, driving global economic recovery and fostering international development. “This growth fuels qualitative and quantitative progress, benefiting economies like Nigeria through our collaboration in trade, technology, and infrastructure,” Yan explained.
Initiatives Driving Cooperation
China has played a significant role in Nigeria’s infrastructure development through initiatives like the Belt and Road Initiative (BRI) and trade fairs promoting bilateral cooperation. In 2024, the Chinese community in Nigeria launched the “Renewed Hope, Rebirth from the Light” project, providing cataract surgeries for over 300 Nigerians.
Additionally, Yan announced the 2025 launch of the “Together Fight Against Hunger” project, aimed at supporting low-income communities in Nigeria and addressing poverty and hunger. These efforts underscore China’s role in Nigeria’s socio-economic development.
Strategic Achievements and Future Goals
Chinese Foreign Minister Wang Yi, during his recent visit to Nigeria, celebrated three key milestones in the bilateral relationship: strengthened diplomatic positioning, enhanced collaboration platforms, and elevated international cooperation.
Nigeria’s Vice President Kashim Shettima also acknowledged the importance of trade relations, describing them as one of Africa’s largest partnerships. However, he stressed the need for diversification, urging Nigeria to expand beyond exporting primary products and focus on value-added goods.
With China’s rising global influence and Nigeria’s strategic position, the bilateral trade offers opportunities for job creation, technological transfer, and infrastructure upgrades. However, the trade imbalance — dominated by Chinese manufactured goods — calls for strategic efforts to enhance Nigeria’s industrial capacity and export portfolio.
