Nigeria-China Trade Volume Jumps To $26bn In 2022

The trade volume between Nigeria and China increased to $26 billion in 2022, OduNews reports.

This was disclosed by the Chinese envoy as Nigeria plans the export of 20 containers of agro-commodities to China.

The Federal Government of Nigeria has taken steps to increase the country’s non-oil exports by appointing Zeenab Foods Limited to establish and manage the Nigerian Export Trade House in the China and Far-East region. The Nigerian Export Promotion Council, which is overseeing the initiative, aims to boost export volumes to China and other countries in the Far East through the training, guidance, and off-taking of agricultural commodities.

As part of this effort, 20 containers filled with ginger, sesame seeds, and other agro-commodities were loaded at Zeenab Foods’ plant in Abuja and then transported to ports for export to China. At a ceremony held in Abuja, Allen Znang, an official from the China Trade Office/Embassy in Nigeria, noted that the export of agro-commodities from Nigeria to China represents a significant milestone and will further increase trade volumes between the two countries.

He stated that “The trade relationship between Nigeria and China is a win-win relationship. Last year, the trade volume between Nigeria and China reached almost $26bn. It is more than three times the trade volume between China and Ghana. It is four times the trade volume between China and Kenya and six times the trade between China and Cameroon.”

The Managing Director, Zeenab Foods, Victor Ayemere, said the commodities were heading to Nigeria’s trade house in China, from where they would be distributed.

He said, “Today we are pushing out 20 containers to the trade house in China, in preparing for the commissioning that we intend to do in China in March this year. So we are ready and the export trade house in China is ready to take everything that can move from here.”

Ayemere said the first set of exports to China was done in 2022, adding that more agro-commodities would be exported from Nigeria to the Asian nation.