Nigeria and China’s commerce quantity in 2024 surpassed $20 billion. Whereas the determine signifies the robust commerce relations between each nations, it marked a major 11.5% decline from 2023. Talking at a Lunar New Yr occasion in Abuja, Chinese language Ambassador Yu Dunhai expressed China’s want for stronger commerce relations and Beijing’s dedication to implementing the Discussion board on China-Africa Cooperation (FOCAC) agreements. He additionally emphasised Nigeria’s significance in BRICS and its position as China’s largest engineering contract recipient in Africa. In the meantime, China’s Consul-Normal in Lagos, Yan Yuqing, highlighted China’s 5% GDP development, which fueled international restoration and bilateral initiatives just like the Belt and Highway Initiative (BRI). Regardless of the commerce drop, bilateral cooperation between Beijing and Abuja continues to thrive throughout infrastructure, know-how, and commerce, underscoring the enduring partnership between the 2 nations.
Supply: Nairametrics
