China-Nigeria Trade Volume Hits $20 Billion Mark.
The Chinese Ambassador to Nigeria, Mr. Yu Dunhai, has disclosed that the current trade volume between Nigeria and China is over $20 billion.
The envoy also disclosed that both countries are making efforts to improve the current volume of trade between them.
Yu spoke on Saturday during the Chinese New Year Celebration, which was themed “Year of the Golden Snake.”
The Lunar New Year will be celebrated on Wednesday, Jan. 29. The occasion is based on the lunar calendar and takes place worldwide, but it’s primarily celebrated by Asian countries. This year marks the beginning of the year of the snake.
Speaking on China-Nigeria bilateral relations, the envoy said: “The trade volume exceeded $20 billion last year. And I think Nigeria is the largest engineering contract, the second largest exporting market, and the third largest trade partner for China in Africa.
“And of course, we would like to work with Nigeria to increase our trade volume because we see an immense potential.
“Nigeria is a major African country with world influence, and it is now also a partner country of BRICS.
“So last year we held the forum for China-Africa cooperation, and we look forward to working together with Nigeria to implement the ten action partnerships and to benefit people in Nigeria and China.”
Speaking on the significance of this year’s Chinese New Year Celebration, Yu said, “We believe that it represents hard work, intelligence, and happiness. So, we hope the Year of the Snake will bring peace and prosperity to the Chinese and Nigerian people.
He added, “Well, you know, the year 2025 will be a big year for China and Nigeria.
“It’s because last year, President Bola Tinubu made a state visit to China, and the two presidents agreed to elevate our bilateral relations to a comprehensive strategic partnership. One of the pillars of this relationship is the closeness of people to people and the cultural exchange. So, for the Chinese embassy, each year, we organize this spring festival temple fair.“And this year, we invited over 2,000 Nigerians and Chinese to enjoy and celebrate with us. The start of the Chinese New Year is usually a time for celebration, a time for reflection, and also a time for reunification.
“And we look forward to working with people from all walks of life in Nigeria to materialize the very important consensus we reached between our two heads of state and bring our two countries’ cooperation to a new level.”
For his part, the Permanent Secretary, Federal Minister of Arts, Culture, Tourism and Creative Economy, Mr. Raphael Obi, urged the Chinese to invest in the country’s Creative industry, noting that Nigeria’s rich culture offers much to be tapped.
He said: @There is a lot Nigeria and China can do together. We have many cultural exchanges, and we’re inviting every Chinese who wants to stay and work in Nigeria to feel free to do so because we have a lot of space. We have millions of spaces in the creative economy because that is where we showcase our talents.
“Then the arts, culture, and tourism is a vast sector in Nigeria, but we’re inviting the people of China to come and share those things that make them special in the world with us, and we also wish our own with them.
“China is a vibrant cultural country, just like Nigeria, and we have a lot of things in common at the cultural and tourism level.
He prayed for a more assertive China “and the opportunity to continue to share their talents, resilience, and prosperity with the rest of the world so that the world will be a better place for everybody to live.”
