China already represents a quarter of Nigeria's foreign purchases. It maintains its position as the West African country's first trading partner, which it overtook from the United States in 2020.
The trade volume between Nigeria and China will reach $26 billion in 2022, Allen Zhang, head of the trade office of the Chinese embassy in Nigeria, announced on Thursday, January 19.
“The trade relationship between Nigeria and China is a mutually beneficial relationship. Last year, the volume of trade between both countries reached $26 billion,” he declared, quoted by The Punch.
«This represents more than triple the volume of trade between China and Ghana. It is also four times the trade volume between China and Kenya and six times the trade volume between China and Cameroon,” he added.
China, which already represents a quarter of Nigerian purchases abroad, retains its position as Nigeria's first trading partner, which it overtook from the United States in 2020.
Nigeria's exports to the Middle Kingdom remain mostly raw materials, including crude oil. Its imports from the Asian giant consist mainly of finished products (machinery, textile-clothing, transport materials, electrical and electronic components, etc.).