Nigeria, China Trade Volume Hit $20bn

The Chinese Ambassador to Nigeria, Ambassador Cui Jianchun, has said that the trade volume between his country and Nigeria was $20bn in 2020 despite the coronavirus pandemic.

During the period, the envoy explained, China’s GDP also grew to $15.7tn from $10.5bn in 1952.

Addressing a news conference in Abuja on Tuesday to mark the moon festival, one of the most important traditional holidays in China, Jianchun disclosed that Chinese firms and nationals had donated cash and materials valued at N3bn to Nigeria as COVID-19 support.

According to him, the Asian powerhouse has provided three batches of medical aid and also shared its experience on epidemic prevention and control with the Federal Government.

The envoy said the Chinese government planned to donate 500,000 doses of COVID-19 vaccines to Nigeria, noting that the first batch was under consideration.

He said, “China’s trade volume with Nigeria is growing. Last year, trade between the two countries grew to about $20bn and we expect this to continue to grow as the relations between us wax stronger.

“The local Chinese are rushing to help their Nigerian brothers and sisters. The total value of materials and funds donated by the local Chinese companies and nationals amounted to N3bn.”

The ambassador proposed a Nigeria-China GDP Strategy, arguing that the two countries needed to form ‘an orchestra to play a symphony within the Belt and Road Initiative’.