Nigeria, China trade hits $20bn, says minister

From Isaac Anumihe, Abuja

Minister of Power, Chief Adebayo Adelabu, has disclosed that trade volume between Nigeria and China has reached $20 billion.

The minister spoke  in a meeting with the Chinese Ambassador to Nigeria, Yu Dunhai, at the weekend, emphasising that such collaboration is essential to President Tinubu’s Renewed Hope Agenda and must also advance the local content advocacy of the Federal Government to preserve foreign exchange.

He highlighted crucial Chinese investments in Nigeria’s energy infrastructure, pointing out that the $1.4 billion Zungeru Hydroelectric Power Plant and a $2.5 billion transmission project for the Eastern and Western super grid, was funded through Chinese financial institutions.

In a statement, he said that Nigeria is the biggest economy in Africa and China is the biggest in Asia. Adelabu proposed that the importance of their relationship warrants more frequent, quarterly meetings to review progress across all segments of the power sector.

While expressing gratitude for China’s support, the minister also raised two critical issues. First, he urged Chinese companies to help develop local Nigerian capacity by training workers and transferring knowledge. Second, he called on the Chinese government to take stringent measures to discourage the manufacture of substandard products for export to Nigeria.

Adelabu noted that while China produces high-quality goods, the proliferation of inferior items tarnishes its reputation and harms Nigerian consumers, stating that “there must be a minimum standard.”

In his response, Ambassador Yu Dunhai reaffirmed Nigeria’s central importance in China’s foreign policy for Africa and offered the embassy’s full cooperation.

He acknowledged the transformative potential of the Renewed Hope Agenda and expressed his understanding of the immense responsibility on the Power Minister, describing electricity as the “blood of industry.”

The ambassador cited Nigeria’s talented youth and vast market potential as a solid foundation for continued mutual growth and collaboration.