China-Nigeria Bilateral Trade Surpasses $17.1bn in October 2024 – Yan Yuqing

The Consul General of the People’s Republic of China in Lagos, Ms. Yan Yuqing, has announced that bilateral trade between China and Nigeria exceeded $17.1 billion as of October 2024.

Highlighting the strengthened economic ties, Yuqing noted improvements in the trade structure between the two nations.

She also acknowledged the active participation of tens of thousands of Nigerian entrepreneurs in major trade events, including the Canton Trade Fair and the China International Import Expo.

These insights were shared in her article titled “China and Nigeria Join Hands to Write a Glorious Chapter of Friendly Cooperation in 2024.”

Yuqing emphasised that throughout 2024, China and Nigeria maintained steadfast support for one another, fostering mutual benefits and achieving win-win outcomes in their collaboration.

The consul-general said: “The consular district of the Chinese Consulate General in Lagos covers 20 states in the southern part of Nigeria, which are economically developed, rich in natural resources, and have broad prospects for development.

“Over this year, in addition to promoting the deepening of economic and trade, education, medical and health cooperation between Lagos State and China’s Jiangxi Province and Qingdao City, I have also visited Ogun State several times and travelled to Edo State, Ekiti State, Ondo State, and Cross River State.

By strengthening cooperation in industrialisation, agricultural modernisation, and talent development, we have deepened the sister city relationships between Edo State and Fuzhou City, and Ondo State and Linyi City.”

On education, Yuqing stated that “Over the past year, we have worked closely with the University of Lagos (UNILAG), Afe Babalola University (ABUAD), the University of Port Harcourt, and others, facilitating direct dialogues between Chinese and Nigerian counterparts and expanding the space for academic research. We have established the Lagos Forum in collaboration with the Nigerian Institute of International Affairs (NIIA), the Africa China Economy Magazine, and the Institute of African Studies at Zhejiang Normal University.”

“Over the past year, China and Nigeria have achieved much in the field of infrastructure and engineering contracting. In January this year, I had the honour of witnessing the largest container ship in Nigeria’s history docking at Lekki Deep-sea Port. This marks the largest deep-sea port in West Africa, built by a Chinese company, as a new global “business card” for Nigeria.

“In February, I witnessed the launching ceremony of the first phase of the Lagos Rail Mass Transit (LRMT) Red Line Project and the signing of the agreement on its second phase, which once again demonstrated that the Nigerian side had the same trust in Chinese-funded enterprises as in the past,” she added.