Nigeria-China Trade Volume Can Exceed $13 Billion – Speaker Abbas
Speaker of the House of Representatives, Rt. Hon. Abbas Tajudeen, has called for increased bilateral cooperation between Nigeria and China, emphasising the need to surpass the current $13 billion annual trade volume between the two nations.
The Speaker made this statement on Tuesday during a courtesy visit by Vice Chairman of China’s National People’s Congress Standing Committee, Mr. Zhang Qingwei, at the National Assembly in Abuja. Qingwei was accompanied by the Chinese Ambassador to Nigeria, Mr. Yu Dunhai, and other Chinese officials.
Highlighting the significance of Nigeria-China relations, Speaker Abbas described the partnership as one of “mutual respect, collaboration, and shared aspirations.” He noted its impact on Nigeria’s economy through trade, infrastructure development, and cultural exchange.
“According to recent reports, the trade volume between our countries has surpassed $13 billion annually, making China Nigeria’s largest trading partner. This relationship has facilitated the growth of Nigeria’s economy through investments in critical sectors such as rail, agriculture, and manufacturing,” Abbas said.
He continued; “As we reflect on the achievements of our partnership, let us also envision greater possibilities. I am optimistic that our two parliaments working together can unlock the full potential of our cooperation, benefiting not only our nations but also contributing to global stability and prosperity.
The Speaker praised President Bola Ahmed Tinubu for his dedication to fostering Nigeria-China relations, as demonstrated by his participation in the September Forum on China-Africa Cooperation (FOCAC) summit.
“President Bola Ahmed Tinubu’s participation underscored Nigeria’s commitment to leveraging FOCAC’s framework to advance our national development goals,” he stated.
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To strengthen ties, Abbas proposed knowledge-sharing programmes, parliamentary exchanges, and legislative frameworks to attract Chinese investments into sectors like manufacturing, technology, and agriculture. He also emphasised the need for joint legislative action on poverty reduction and youth empowerment, leveraging China’s success in alleviating poverty.
Qingwei, in his remarks, expressed China’s readiness to deepen collaboration, particularly between the parliaments of both countries, and called for more exchange programmes to share ideas and best practices.
The visit reaffirmed the commitment of both nations to bolstering trade, cultural exchange, and legislative cooperation for mutual benefit.
