Minister Counselor Wang Yingqi of the Chinese Embassy in Nigeria said China imports from Nigeria reached $2.386 billion in 2023, an increase of 49.3% compared to that of the year 2022.
Trade volume between Nigeria and China reached $22.56 billion in 2023, according to the Envoy.
This was revealed during the China Media Group (CMG) and the University of Abuja seminar in Abuja as part of CMG’s “Global Media Dialogue” event with the theme: Enhancing China-Africa cooperation in new quality productive forces to realise high-quality growth.
Giving his speech, he said, “Nigeria is in the leading position of economic, investment and trade cooperation with China among African countries.
“Last year, bilateral trade reached $22.56 billion. China imports from Nigeria reached $2.386 billion, an increase of 49.3% compared to that of the year 2022.
“Investment from China reached $363 million. Three major investment projects are Free Trade Zone and Industrial Parks in Lekki, Ogun and Shagamu.
“Lekki Deepsea Port, which is the only deep sea port in West Africa is a Nigeria. In Abuja, experts from Nigeria, Germany and China will work together in the Agriculture Model Center to improve rice farming.
“Our cooperation made a significant contribution not only to Nigeria’s social and economic development but also to the sound development of economic globalization.”
He further disclosed that China was ready to share with Nigeria its strategy of 5I which means Infrastructure, ICT, Industry, Investment, and Import and Export.
“5I will be the pioneer area in the development of New Quality Productive Forces. We will continue to work together to develop the New Quality Productive Forces and develop a new development pattern, keep moving forward and integrate the Chinese Dream with Nigerian dreams.”