General News
Nigeria-China Trade Soars To $18bn In Six Months As Abuja, Beijing Deepen Economic Ties
By Iyojo Ameh
Economic ties between Nigeria and China have continued to expand, with bilateral trade hitting about $18 billion in the first half of the year, as both countries seek to deepen cooperation in infrastructure, energy, manufacturing, technology and trade.
The Minister of Power, Joseph Olasunkanmi Tegbe, disclosed the figure while representing President Bola Ahmed Tinubu at a ceremony in Abuja marking the 77th anniversary of the founding of the People’s Republic of China.
Tegbe said the latest trade figure represented significant growth from the approximately $28 billion recorded between both countries at the end of last year, adding that Nigeria’s exports to the Chinese market had also recorded substantial improvement.
He said the development underscored the growing importance of the China-Nigeria economic partnership and the need to expand cooperation in sectors capable of strengthening Nigeria’s productive capacity.
According to the minister, electricity, renewable energy and local manufacturing of power equipment should form part of the next phase of bilateral cooperation.
He stressed that investments in Nigeria should increasingly promote technology transfer, build local technical capacity and strengthen the ability of Nigerian companies and professionals to participate in strategic industries.
Tegbe also highlighted China’s transformation since the founding of the People’s Republic in 1949, citing advances in manufacturing, science and technology, high-speed rail and clean energy.
He said China’s economic reforms had lifted hundreds of millions of people out of poverty and created a foundation for sustained economic development.
The minister noted that Nigeria and China had maintained diplomatic relations since February 10, 1971, with the partnership expanding over the decades to cover infrastructure, healthcare, education, technical training and commerce.
He said the relationship was elevated to a Comprehensive Strategic Partnership in September 2024 when President Tinubu and Chinese President Xi Jinping met during the Forum on China-Africa Cooperation Summit in Beijing.
Tegbe commended China’s role in major Nigerian infrastructure projects, particularly railway modernisation and power development, describing the partnership as important to Nigeria’s development aspirations.
He also welcomed China’s decision to provide zero-tariff treatment to 53 African countries, describing the policy as an opportunity for Nigerian producers and exporters to gain greater access to the Chinese market.
The minister said Nigeria would need to take advantage of the opportunity by improving production, quality standards and export capacity.
He further reaffirmed Nigeria’s commitment to the One China Principle, recognising the People’s Republic of China as the sole legal government representing China.
Tegbe expressed optimism that increased trade, investment, people-to-people exchanges and development cooperation would further strengthen relations between the two countries.
Speaking at the ceremony, Chinese Ambassador to Nigeria, Yu Dunhai, described the bilateral relationship as an important pillar of China-Africa cooperation.
Yu praised Nigerians for what he described as their resilience, optimism and entrepreneurial spirit, reflecting on his two years in the country.
The ambassador said his travels across Nigerian cities and rural communities had given him a deeper appreciation of the determination of Nigerians to pursue opportunities and development through hard work.
He said China remained committed to advancing its modernisation and contributing to global development despite continuing challenges in the international economy.
Yu said China’s economy grew by 4.7 per cent in the first half of the year, with innovation in areas such as artificial intelligence, robotics, pharmaceuticals and renewable energy supporting economic activity.
He also highlighted China’s support for Africa’s development and integration, saying Beijing would continue to work with African countries through the Forum on China-Africa Cooperation and other bilateral and multilateral platforms.
The ambassador said China’s zero-tariff policy covering 53 African countries was intended to facilitate greater African exports and support industrial development across the continent.
With trade reaching about $18 billion in just six months, the latest figures point to the increasing scale of commercial engagement between Nigeria and China.
For Abuja, the challenge is to translate expanding trade and Chinese investment into greater domestic production, technology transfer, employment and export capacity.
For Beijing, Nigeria remains an important partner in Africa, with its large consumer market, natural resources, infrastructure needs and growing economic potential.
Both sides have therefore signalled an interest in moving the relationship beyond traditional infrastructure projects towards energy cooperation, manufacturing, technology, skills development and broader economic integration.
As Nigeria and China mark more than five decades of diplomatic relations, the growing trade volume is adding a new economic dimension to a partnership that has increasingly become central to both countries’ development and international engagement.
