Nigeria, China Intertrade Volume Peaks At $26bn In 2022

Nigeria began exporting 20 containers of agricultural products to China on Thursday, as Chinese authorities promised that the two countries’ combined commerce will reach $26 billion by 2022.

The Federal Government selected Zeenab Foods Limited to establish and run the Nigerian Export Trade House China/Far-East area as part of initiatives to enhance Nigeria’s non-oil export. This was done through the Nigerian Export Promotion Council.

The goal was to enhance the amount of exports to China and other nations in the far east through agricultural commodity off-take, training, conversion, guidance, and sensitization.

Sesame seeds, ginger, and other agricultural products were loaded into 20 containers, each measuring 40 feet, at the Zeenab Foods facility in Abuja before being transported to the ports.

Speaking at the event in Abuja, an official from the China Trade Office/Embassy in Nigeria, Allen Znang, said the export of agro-commodities from Nigeria to China was a milestone, adding that it would further increase the trade volumes between both countries.

He said, “The trade relationship between Nigeria and China is a win-win relationship. Last year, the trade volume between Nigeria and China reached almost $26bn.

“It is more than three times the trade volume between China and Ghana. It is four times the trade volume between China and Kenya and six times the trade between China and Cameroon.”

The goods were traveling to Nigeria’s trading house in China, according to Victor Ayemere, managing director of Zeenab Foods, from whence they would be distributed.

In order to be ready for the commissioning we want to undertake in China in March of this year, he stated, “Today we are pushing out 20 containers to the trade house in China. In order to grab all that may go from here, both we and the export trade company in China are prepared.

Ayemere stated that the first batch of shipments to China were completed in 2022 and more agricultural products will be sent from Nigeria to the Asian country.

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