The Chinese Ambassador to Nigeria, Mr. Yu Dunhai, has revealed that the trade volume between Nigeria and China has surpassed the $20 billion mark. He noted that both nations are actively working to further strengthen economic ties and increase trade volume in the years ahead.
Ambassador Yu made this announcement on Saturday during the Chinese New Year celebration, themed “Year of the Golden Snake”. The Lunar New Year, which is celebrated worldwide but primarily in Asian countries, begins on Wednesday, January 29, marking the start of the Year of the Snake.
Highlighting the significance of the China-Nigeria partnership, the Ambassador stated:
“Nigeria’s trade volume with China exceeded $20 billion last year. Nigeria is China’s largest engineering contract partner, the second-largest export market, and the third-largest trade partner in Africa. There is immense potential for our trade relations to grow further. Nigeria, being a major African country with global influence and a BRICS partner, offers significant opportunities for collaboration.”
Ambassador Yu also referenced the recent Forum on China-Africa Cooperation, emphasizing China’s commitment to implementing the forum’s ten action partnerships to benefit both Chinese and Nigerian citizens.
On the cultural significance of the Chinese New Year, the Ambassador remarked:
“The Year of the Snake symbolizes hard work, intelligence, and prosperity. We hope this year will bring peace and progress to both Chinese and Nigerian people.”
He also reflected on the deepening bilateral relationship, noting:
“In 2025, we will celebrate a pivotal milestone in China-Nigeria relations. Last year, President Bola Tinubu paid a state visit to China, where both presidents elevated bilateral ties to a comprehensive strategic partnership. Cultural exchange is one of the pillars of this relationship. This year, we welcomed over 2,000 participants, both Nigerians and Chinese, to our spring festival temple fair, fostering a spirit of unity, reflection, and celebration.”
The Ambassador expressed optimism about the future, underscoring the need for collaboration between the two nations to actualize the agreements reached by their leaders.
Nigerian Government Encourages Investment in Creative Industries
Speaking at the event, Mr. Raphael Obi, Permanent Secretary of the Federal Ministry of Arts, Culture, Tourism, and Creative Economy, called on Chinese investors to explore Nigeria’s creative and cultural industries.
“Nigeria and China share a wealth of cultural similarities and potential for collaboration,” Obi said. “Our creative economy is vast, offering countless opportunities for talent development and cultural exchange. We encourage Chinese investors to explore these areas and share their unique cultural strengths with us.”
Obi emphasized the value of cross-cultural exchange, adding:
“China is a nation rich in culture, much like Nigeria. Together, we can build a stronger cultural and tourism relationship, creating a platform for shared prosperity and global influence.”
The event concluded with a shared commitment to strengthen the bilateral relationship, foster mutual cultural understanding, and expand economic cooperation between China and Nigeria.
