The Consul General of the Chinese Consulate General in Lagos, Ms. Yan Yuging has called for more and greater economic cooperations between Nigeria and China.

She said that shared investments and projects have promoted local economic and social development, making a significant contribution to deepening bilateral economic and trade cooperation.
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This was at her opening speeches during the China-Nigeria Expo 2023 and China-Africa (Nigeria) Industry Capacity Cooperation Exhibition that opened today at Landmark Event Center and Tafawa Balewa (TBS) Banquet Hall in Lagos, Nigeria.

She welcomed the Trade Development Bureau of the Ministry of Commerce, Brightway International Exhibition Co. Ltd., as well as the Chinese enterprises coming to participate in the exhibition, and expressed appreciation to Nigerian friends who attended the exhibition.

According to her, due to the principles guiding China’s Africa policy, including sincerity, real results, amity, and good faith, and the high-quality Belt and Road Initiative (BRI), China-Nigeria relations are steadily advancing, with deepening cooperation in trade, investment, and contracted projects,” she said.

She explained that according to Chinese customs data, the bilateral trade volume between China and Nigeria reached $23.9 billion in 2022, with China’s exports to Nigeria amounting to $22.3 billion and imports from Nigeria totaling $1.6 billion. In the first three quarters of 2023, bilateral trade stood at $17.25 billion, with exports to Nigeria being $15.67 billion and imports from Nigeria at $1.58 billion, marking a 22.5% increase in imports from Nigeria compared to the same period last year.

Nigeria has become China’s second-largest trade partner in Africa, and China is Nigeria’s largest global source of imports.

She noted that Nigeria is a pilot country for China and Africa to jointly build the Belt and Road Initiative, stating the need for more business investments among the two countries

“Nigeria is also China’s biggest contractor market and a major investment destination in Africa. China’s investments in Nigeria are primarily concentrated in the manufacturing sector, with a focus on steel, automobiles, machinery, electronics, and daily necessities.

“Chinese companies have a large number of contracted engineering projects in our territory, such as the Lekki Deep Sea Port, the Dangote Refinery, the Lagos Blue Line Light Rail, the Lagos International Airport, and the Lagos-Ibadan Railway, significantly promoting local economic and social development.
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“Today’s exhibition is an important platform for Nigeria to form a deeper understanding of Chinese products, Chinese technologies, Chinese brands,Chinese quality, Chinese service and Chinese image.

I also hope the Chinese business community at present will, with your sincerity and enthusiasm, make more friends in Nigeria and help bring Chinese products to millions of Nigerian households,” she added.
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