Lagos, March 10, 2025 – China remains Nigeria’s dominant trading partner since 2024, particularly on the import side, with a significant share of Nigeria’s total imports.
India, the USA, Belgium, and The Netherlands followed in terms of trade volume.
According to the Nigeria Bureau of Statistics (NBS), the trade volume between China and Nigeria exceeded $20 billion in 2024.
Nigeria recorded a N3.4 trillion trade surplus against China in the fourth quarter of 2024
The most traded commodities during the first and second quarters of 2024 included motor spirit ordinary, gas oil, durum wheat, cane sugar, and other liquefied petroleum gases.
Crude oil continued to dominate Nigeria’s exports, accounting for 68.87% of total exports with a value of N13.78 trillion.
The percentage of oil export to China was 88.8% (₦643.455 billion) while non-oil export stood at 11.2% (₦81.162 billion).
Non-oil constitutes Nigeria’s total import from China valued at ₦602.906 billion in the fourth quarter of 2024. (GBN)
