From Okwe Obi, Abuja
The federal government has announced that the trade volume between Nigeria and China rose to $22 billion in 2023.
Director General and Global Liaison Officer of the Nigeria-China Strategic Partnership, Joseph Olasunkanmi Tegbe, stated this at the China-Africa Economic Trade Expo in Abuja.
Tegbe explained that the figure fell below the trade volume between China and Brazil, which rose to $105 billion in the same year.
He announced that 30 Nigerians had already been sent to China to learn the governance and economic structures to be replicated in Nigeria.
According to him, the two countries continue to deepen bilateral trade to harness the economic potential between Nigeria and China.
He said: “One of our cardinal objectives is to increase the trade volume between Nigeria and China. As of December 2023, the trade volume between Nigeria and China was about $22 billion. Imports from China accounted for $20 billion. On the other hand, we look at the Brazil-China relationship. During the same period, Brazil’s export to China in 2023 was $105 billion, while China’s export to Brazil was $59 billion.
“Today, we stand at a crossroads of potential and progress, ready to explore new frontiers and reshape our relationship.
“The recently concluded summit in China, which culminated in my appointment by President Bola Tinubu as the Director General and Global Liaison Officer of the Nigeria-China Strategic Partnership, marks the much-needed elevation of our trade and economic relationship with the People’s Republic of China.
“As you may be aware, Nigeria and China have elevated their partnership to a comprehensive strategic partnership. This marks the beginning of a dispensation where we are determined to work better and closer with the People’s Republic of China.
“As of today, China accounts for just 10% of the world’s arable land, but has successfully solved the food problem for over 1.2 billion people, accounting for 15% of the world population, while Africa accounts for 60% of the world’s arable land. Yet, we are still facing food challenges.
“This new dawn presents an opportunity to be part of this solution for food security, using Chinese advanced methods, techniques, and technology.
“The Nigeria-China relationship is already yielding results. As of today, one of the Chinese companies employs an average of 1,700 Nigerians every year in the ICT sector. As we speak, 30 Nigerians drawn from various ministries, departments, and agencies are in China, undergoing intensive training in the field every year in ICT.”
Also, Chairman of the China International Contractors Association, Fang Quichen, said Nigeria and China are exploring the use of advanced technologies, such as big data, cloud computing, and AI, to enhance the intelligence and automation of infrastructure.
“The integration of digital technology with new infrastructure, the blue economy, and agricultural modernization has emerged as a focal point for cooperation.
“Furthermore, renewable energy projects, including solar and wind, are gaining increased attention worldwide, further advancing the development and utilization of clean energy.
“These emerging characteristics and trends not only facilitate the transformation and upgrading of infrastructure cooperation between China and Nigeria, but also inject new impetus for mutual benefit and shared development.”