Lagos State Governor Babajide Sanwo-Olu stated that bilateral trade between Nigeria and China is now valued at nearly $24 billion and continues to grow steadily. He made the remarks during the opening of the 2025 China Commodities Expo Nigeria in Lagos, represented by Commissioner Folashade Ambrose-Medebem.

Key Highlights:

• The Expo, featuring over 250 Chinese manufacturers and more than 5,000 business delegates, serves as a platform to strengthen economic partnership in sectors including automobiles, renewable energy, manufacturing, textiles, electronics, and agriculture.
• Lagos, described as Africa’s foremost trade and logistics hub, leverages strategic infrastructure like the Lekki Deep Seaport and Lagos Free Zone to support industrial growth and continental commerce.
• China has invested over $1.5 billion in Lagos and across Nigeria, contributing to infrastructure, technology transfer, and skills development.
• Sanwo-Olu encouraged Nigerian businesses to capitalize on opportunities at the Expo to promote sustainable growth.

Chinese Perspective:

• The Consul General of China in Lagos, Yan Yuqing, highlighted the 25th anniversary of FOCAC and 54 years of China-Nigeria diplomatic relations.
• China-Nigeria trade reached nearly $21.9 billion in 2024, about 8% of total China-Africa trade, with Africa’s largest trading partner being China for 16 consecutive years.
• Future collaboration will focus on industrial capacity alignment, green transformation, and people-to-people exchanges.

Additional Remarks:

• Wang Deyang, Deputy Director of China’s Trade Development Bureau, expressed optimism about continued trade growth and emphasized cooperation with Nigerian partners to deepen economic and trade relations.