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China – Nigeria to Increase Trade Volume of $20 Billion in 2025

Admin by Admin
January 25, 2025
in Other news
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By: Mnena Iyorkegh, Abuja 

China has expressed the willingness to  working with Nigeria to improve the current volume of trade between both countries, which is over 20 billion Dollars.

The Chinese Ambassador to Nigeria, Mr.Yu Dunha, disclosed this in Abuja,  at the Chinese Lunar New Year Celebration, with the theme “year of the Golden Snake”

Speaking on China-Nigeria bilateral relations the Envoy explained that China hopes to implement the agreement undertaken by the teo nations during FOCAC.

“Nigeria is a major African country that has world influence, and being a partner country of BRICS, China looks forward to working with it to implement the 10 Action Partnerships that will benefit citizens of the two countries. The trade volume exceeds $20 billion last year. And I think Nigeria is the largest engineering contract and 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 bring our trade volume to even higher because we see there is a big potential. 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”, he explained 

Speaking on the significance of Chinese New Year Celebration, Yu said that it represents hard work, intelligence, happiness, and it is  hope that the year of the snake will bring peace and prosperity for Chinese and Nigerian people.

“The year of the snake represents hard work, intelligence, happiness, so we hope that the year of the snake will bring peace and prosperity for Chinese and Nigerian people. Well, the year 2025 is going to be a big year for China and Nigeria. It’s because last year, President Bola Tinubu paid a state visit to China and the two presidents agreed to elevate our bilateral relations to a comprehensive strategic partnership. And one of the pillars for this relationship is the very close 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, both Nigerians and the Chinese to enjoy, to celebrate together with us. Because 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 states and bring our two countries’ cooperation to a new level. Happy Chinese New Year to all of the Chinese communities in Nigeria. I also wish the people of Nigeria a year filled with joy, peace, prosperity, and love”.

Also speaking the Deputy Director, Beijing Municipal Bureau of Culture and Tourism, Mr. Xu Zhen Tao, stressed that Nigeria and China have enjoyed a long-standing friendship since establishing diplomatic relations in the mid-20th century.

 “Under the Belt and Road Initiative, China-Nigeria cooperation not only deepens the bilateral relations, but creates more opportunities for realizing stability, prosperity and development across the African continent and even globally”, he said 

Speaking on Nigeria’s side, the Permanent Secretary, Nigeria’s Minister of Arts, Culture, Tourism and Creative Economy, Mr. Raphael Obi, noted  that there is so much to be tapped from Nigeria’s rich culture, urging the Chinese to invest in the country’s Creative industry, 

“There is a lot Nigeria and China can do together we have a lot of cultural exchanges and we’re inviting every Chinese that wants to stay and work in Nigeria to feel free, come in and do so because we have a lot of space. In the creative economy alone, we have millions of spaces because that is where we showcase our talents. “Then the arts, culture and tourism is a very 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 to share with us and we also wish our own with them. China is a very rich cultural country just as Nigeria and we have a lot of things in common at the cultural and tourism level”.

According to him, despite their geographical distance, they find common ground in their shared values of family, community, and respect for elders, as reflected in the vibrant festivals of Nigeria and the colorful traditions of China.

“The goodwill that China has extended towards Nigeria in various sectors, particularly in culture and tourism, has been instrumental in enhancing our bilateral relationship. “The collaborative efforts in cultural exchanges, art exhibitions, and tourism initiatives have not only enriched our societies but have also created avenues for economic growth and development. As we celebrate this new year, I would like to reaffirm our commitment to promoting and strengthening the bilateral cultural ties between Nigeria and China. The Federal Ministry of Art, Culture, Tourism and Creative Economy is dedicated to implementing policies and programmes that foster cultural exchange, support artistic collaborations and enhance Tourism opportunities. We envision a future where our cultural interactions flourish, creating a network of shared experiences that benefit both nations.”

The Director,  Centre for Contemporary China-Africa Research in Nigeria, Professor Sheriff Ghali Ibrahim, noted that the event is part of cultural integration, where both nations  learn from each others  rich cultural heritage and diversity.

The  Lunar New Year is to be celebrated on the 29th of January, and the occasion is based on the lunar calendar and takes place all around the world but it’s primarily celebrated by Asian countries. 

This year, it will mark the beginning of the year of the snake.

Other highlights of the event includes, food display , cultural dance performance from both side.

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