Nigeria-China trade volume hit $22.6bn in 2023, says Shettima

Vice-President Kashim Shettima says trade between Nigeria and China grew to $22.6 billion in 2023, “one of the highest in Africa”.

In a statement on Wednesday, Stanley Nkwocha, spokesperson to the vice-president, said Shettima called for continuous improvement of relations between the two nations, emphasising that both countries “are friends who have maintained mutual respect and honour for each other”.

Shettima was said to have addressed a Chinese delegation, led by Zhang Qingwei, vice-chairman of the standing committee of the National People’s Congress, at a meeting in Aso Rock on Tuesday.

The vice-president expressed satisfaction with the steady increase in trade between Nigeria and China, “a bilateral relationship that dates back to 1971”.

“Last year in 2023, our trade relations with China got to $22.6 billion, one of the highest in Africa, if not the highest, and that trade relationship is growing by 33 percent every year,” he said.

“Mind you, the Nigerian economy is picking up but that did not stop our business relationship with China.

“So, I want to reassure you that we will support you in whatever way we can. We believe in you, we respect you and we cherish our relationship.

“Nigeria and China have enjoyed warm bilateral relations for 53 years, dating back to 1971, and this friendship is evident in the numerous high-level visits between the two nations, including the recent visit of President Bola Ahmed Tinubu to China in September 2024.

“These visits have fostered deeper cooperation and strengthened ties between the two nations.”

According to the statement, Shettima admired China’s culture and traditions, saying the country is already making its mark among the committee of nations while calling for greater engagement between the two friendly countries.

“This is the time when there should be greater South-South cooperation. There should be greater engagement between China and Nigeria. For us, it is also time to strengthen ties,” he said.

Shettima assured the delegates of Nigeria’s support for the ‘One China’ policy, adding that the country will overcome her security challenges while seeking China’s support to address insecurity.

“There can never be peace without development and there can never be development without peace,” he said.

“We really want to reposition the security architecture of our country. We are investing in technology, and we need your support, we need your cooperation and your partnership.”

‘CHINA READY TO WORK WITH NIGERIA’

Also speaking, Qingwei said China is ready to move its relationship with Nigeria to a new level, describing it as a new chapter in their partnership.

“In September this year, President Tinubu attended the Forum on China-Africa Cooperation (FOCAC) and also had a State visit,” he said.

“President Tinubu and Xi Jinping jointly announced to elevate Nigeria-China relations to a comprehensive strategic partnership, opening a new chapter of relations.

“China stands ready to work with Nigeria to implement the important consensus between our leaders on the outcome of the summit and elevate Nigeria-China relations to a new height.”

According to the statement, the Chinese official said the countries should support each other politically, highlighting Tinubu’s commitment to economic diversification.

Members of the Chinese delegation were Yu Dunhai, Chinese ambassador to Nigeria, and Chio Bing, vice-chairman of the financial and economic affairs committee of the National People’s Congress of China (NPC).

Other attendees included Wang Li-Sha, a member of the committee of institutions, and Hon Sung Si Dung, a member of the constitution and law committee of the NPC, who is also a member of the China-Nigeria group of the NPC.