Governor Babajide Sanwo-Olu of Lagos State has highlighted the growing strength of economic relations between Nigeria and China, revealing that bilateral trade between both nations has now reached nearly $24 billion and continues to expand steadily.
Speaking at the opening ceremony of the 2025 China Commodities Expo Nigeria in Lagos on Wednesday, Governor Sanwo-Olu—represented by the Commissioner for Commerce, Cooperative, Trade, and Investment, Folashade Ambrose-Medebem—described the event as more than a business exhibition. He emphasized that it represents a vital platform fostering deeper economic collaboration between the two countries.
According to the governor, Lagos remains strategically positioned as Africa’s leading trade and logistics center, ready to take advantage of its partnership with China through key projects such as the Lekki Deep Seaport and the Lagos Free Zone, which are driving industrial and commercial transformation across the continent.
“The China Commodities Expo has evolved into a powerful instrument for strengthening economic synergy between Nigeria and China,” Sanwo-Olu said. “With over 250 Chinese manufacturers and 5,000 business delegates in attendance, this gathering reflects a thriving partnership that spans across industries such as renewable energy, automotive technology, textiles, manufacturing, agriculture, and electronics.”
He added that the Expo aligns with the state’s THEMES+ development agenda, which focuses on innovation, inclusivity, and industrial growth aimed at building a resilient economy capable of creating jobs and improving livelihoods.
Governor Sanwo-Olu also underscored China’s growing investment in Lagos and other parts of Nigeria, stating that Chinese investments—estimated at over $1.5 billion—have contributed to infrastructure development, technology transfer, and human capital enhancement. He encouraged Nigerian entrepreneurs to seize the opportunity to build sustainable partnerships and expand their businesses through meaningful trade agreements.
In her remarks, Ms. Yan Yuqing, Consul General of the People’s Republic of China in Lagos, expressed appreciation to the Nigerian government and partners for their unwavering cooperation in advancing trade relations between both nations. She noted that this year marks the 25th anniversary of the Forum on China-Africa Cooperation (FOCAC) and the 54th anniversary of diplomatic ties between China and Nigeria.
Sharing trade statistics, Yan revealed that China-Africa trade reached approximately $280 billion in 2024, representing a 6.1% increase compared to the previous year. She added that China has maintained its position as Africa’s largest trading partner for 16 consecutive years, with Nigeria accounting for nearly $21.9 billion, or 8%, of that total.
Yan also outlined the future direction of the China-Nigeria relationship, highlighting industrial collaboration, green innovation, and people-to-people exchanges as key areas of focus.
Similarly, Mr. Wang Deyang, Deputy Director of the Trade Development Bureau under China’s Ministry of Commerce, commended Nigeria for its continuous cooperation and reaffirmed China’s commitment to strengthening economic ties. He said that both nations are poised to explore new areas of collaboration and sustain the momentum of their growing trade relationship.
