Lagos State Governor, Babajide Olusola Sanwo-Olu, has said the state is fully prepared to leverage new business opportunities offered through partnerships with the government and enterprises of the People’s Republic of China.
Speaking on Wednesday at the opening of the China Commodities Expo – Nigeria 2025 in Abuja, organised by China’s Trade Development Bureau under the Ministry of Commerce, Sanwo-Olu said Lagos has positioned itself as a strategic hub for international trade through landmark infrastructure such as the Lekki Deep Seaport and the Lagos Free Zone.
Represented by the Commissioner for Trade and Investment, Mrs. Folashade Ambrose, the governor described the expo as a key platform for strengthening economic ties between Nigeria and China, a relationship he noted is already valued at nearly $24 billion in bilateral trade.
“With over 250 Chinese manufacturers and more than 5,000 business delegates in attendance, Lagos is witnessing a convergence of opportunities spanning automobiles, renewable energy, manufacturing, textiles, electronics, and agriculture,” he said.
Sanwo-Olu added: “This Expo reflects how Lagos is embracing innovation, industrialisation, and inclusivity under our THEMES+ development agenda — a vision to build a resilient, globally competitive economy that creates jobs and uplifts communities.
“China’s investments exceeding $1.5 billion in Lagos and across Nigeria have brought not only infrastructure but also technology transfer and skills development, fuelling our shared drive for prosperity.”
He urged Nigerian businesses to take advantage of the platform by negotiating smart partnerships, demanding meaningful technology transfer, and adopting global best practices to accelerate local manufacturing and economic diversification.
“Together, through this Expo, we are building bridges not just for trade, but for sustained collaboration that empowers entrepreneurs, enriches our workforce, and drives sustainable growth,” Sanwo-Olu said.
Earlier, the Consul General of the Chinese Embassy in Nigeria, Yan Yuqing, revealed that bilateral trade between both countries had reached $21.9 billion, accounting for about eight per cent of China–Africa trade.
She noted that overall trade between China and Africa rose to approximately $280 billion in 2024 — a 6.1 per cent increase year-on-year — and reaffirmed China’s position as Africa’s largest trading partner for the 16th consecutive year.
Highlighting China’s investments in Nigeria, Yuqing cited projects such as the Lagos–Ibadan Railway, Lagos Light Rail, Lekki Deep Sea Port, and agricultural modernisation initiatives as evidence of people-oriented cooperation driving Nigeria’s economic and social growth.
She said the exhibition symbolised China’s willingness to “deepen practical cooperation and inject new momentum into the stability of the global industrial chain,” while pledging support for Nigeria’s industrialisation, digital economy, and green energy initiatives.
Yuqing also pointed out that the Fourth Plenary Session of the 20th Central Committee of the Communist Party of China recently adopted the 15th Five-Year Plan, which aims to expand market access, optimise the business environment, and advance the Belt and Road Initiative to new heights.
“This year marks the 25th anniversary of the Forum on China–Africa Cooperation (FOCAC) and the 54th anniversary of diplomatic relations between China and Nigeria. Our bilateral economic and trade cooperation has yielded fruitful results,” she said.
Also speaking, the Deputy Director of the Trade Development Bureau of China’s Ministry of Commerce, Wang Deyang, said the exhibition covers a wide range of industries, including intelligent machinery, agricultural equipment, green building materials, vehicle accessories, and new energy technologies.
He added that over 30 high-quality Chinese enterprises from provinces such as Shandong, Fujian, Hunan, and Jiangxi are participating in the 3,000-square-metre exhibition space.
“We hope this exhibition will bring more business opportunities to enterprises from both countries,” Deyang said, adding that the Trade Development Bureau remains committed to building a stronger platform for deepening economic and trade cooperation between China and Nigeria.
