Business: Nigeria, China Trade Volume Reaches $20bn

Despite the corona-virus challenge in 2020, the Chinese Ambassador to Nigeria, Ambassador Cui Jianchun, has said that the trade volume between China and Nigeria was pegged at $20bn.

Ambassador Cui Jianchun

Through the period of discuss, the ambassador explained that China’s GDP also grew to $15.7tn from $10.5bn in 1952.

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

Addressing the news men during a 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.

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.”