Bilateral trade between Nigeria and China fell by N37.3 billion in 2022, dropping from the record level reached in 2021. The Minister and Counsellor for Economic and Commercial Affairs at the Embassy of the People’s Republic of China, Wang Yingqi, led a delegation from the Chinese Chamber of Commerce to meet the Executive Secretary of the Nigerian Investment Promotion Commission (NIPC) in Abuja on Monday. Wang noted that trade amounted to $219 million in 2022, compared with $300 million in 2021, and emphasized the long‑standing nature of the Nigeria‑China trade relationship. He said the visit was important for exploring ways to strengthen bilateral ties, adding that Chinese investment in Nigeria totaled about $219 million last year, similar to the previous year’s figure.
Wang also highlighted the public‑private partnership between the federal government, the Lagos State Government, and the Chinese government, which includes Chinese investment in the Lekki Free Trade Zone. In response, NIPC Executive Secretary Saratu Umar reaffirmed the federal government’s commitment to deepening business partnerships with China. She stressed that Nigeria should move beyond exporting raw materials to China and begin exporting semi‑processed and finished goods. Umar called on Chinese investors to identify areas of interest—whether in agriculture or solid minerals—so that these sectors can be incorporated into Nigeria’s Investment Masterplan.
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