Nigeria's Trade with China Reaches $23 Billion - Ambassador

Yan Yuqing
Yan Yuqinggoogle

The Consul General of China, Yan Yuqing, has revealed that the trade between Nigeria and China in 2023 hit $22.6 billion, maintaining Nigeria's position as China’s third-largest trading partner in Africa. She shared this information during the arrival ceremony of CMA CGM Scandola, the largest container vessel at a Nigerian port, in Lagos.

In November 2023, China exported synthetic filament yarn woven fabric ($160m), pesticides ($84.1m), non-knit women’s suits ($81.5m), mobile telephone devices ($67.2m), and artificial hair ($59m) to Nigeria. On the other hand, China imported petroleum gas ($95.8m), crude petroleum ($71.5m), niobium, tantalum, vanadium, and zirconium ore ($13.5m), zinc ore ($13.1m), and raw aluminum ($12.6m) from Nigeria.

She emphasized that the CMA/CGM West Africa Express service from China to Lagos, facilitated by the $1.5 billion Lekki Port, is crucial for boosting trade volume between Nigeria and China.

“The volume of bilateral trade between Nigeria and China stood at $22.6bn in 2023, according to statistics from the Chinese Customs Authority. China maintained its position as the top global trading partner and Nigeria stands as the third-largest trading partner for China in Africa,” she said.

Yuqing added that Nigeria’s exports to China had also witnessed a year-on-year growth of about 50 per cent in 2023.

She said Nigeria was the outstanding pilot nation for the Belt and Road Initiative, making a community with a shared future for China-Nigeria more stable and robust.

According to her, the arrival of CMA CGM Scandola at Lekki port with a capacity to carry 15,000 twenty foot containers or equivalent units directly from China makes the cooperation between China and Nigeria stronger.

“The Lekki Deep Seaport is a significant milestone in the high-quality joint construction of the Belt and Road, (an initiative that supports Africa’s industrialisation) between China and Nigeria. We are pleased to see it playing a positive role in Nigeria’s national modernization development,” she said.

“In recent years, the cooperation between China and Nigeria in the field of airport, seaport, railway, road, communication network and other infrastructure has made great achievement. Projects such as the Blue and Red Line Light Rail, the Lagos-Ibadan Railway, and the international airport gave us a glimpse of Lagos accelerating into a globally attractive supercity,” Yuqing said.

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