Most Nigeria-China trades undocumented – Envoy

The Charge d’ Affaires of the Embassy of Nigeria in Beijing, Ambassador Babagana Wakil, has said most trades between Nigeria and China are not documented. He disclosed this when he hosted a team of journalists and top officers of the Nigeria Customs Service, who were in China for a separate training program, at the embassy […]

The Charge d’ Affaires of the Embassy of Nigeria in Beijing, Ambassador Babagana Wakil, has said most trades between Nigeria and China are not documented.

He disclosed this when he hosted a team of journalists and top officers of the Nigeria Customs Service, who were in China for a separate training program, at the embassy on Monday.

According to Amb Wakil, the official trade volume between Nigeria and China stands at around $20 billion in 2024.

He, however, said most trades were informal and not documented, adding that the trade volume for last year could reach $80 billion if those in the informal sector were captured.

“I was formerly the economic desk officer of the embassy and I know that the trade volume (between Nigeria and China) is far beyond what is being reported because more than half is undocumented and in the informal sector.

“Pre-covid, we had less than $20 billion but we are looking at more than $70 to $80 billion now,” he said.

The envoy disclosed that after China upgraded its relationship with Nigeria to a comprehensive level in 2024, the two countries had increased engagement in many sectors.

He said many trade agreements have been signed and were being currently implemented by both countries, adding that discussions were ongoing to sign fresh Memorandum of Understandings.

Amb Wakil, therefore, highlighted the need for the visiting Customs officers to understudy their counterparts in China to improve their operations when they return home.

He also charged the visiting journalists to continue contributing their quota to national development by objectively reporting the activities of Nigerians in the diaspora while also sensitising them on the need to be law-abiding while in foreign lands.

The leader of the delegation from Customs, Assistant Controller-General Oluyomi Abolaji Adebokin, said having a good knowledge of how the Customs in China operates was pertinent following the increase in trade volume between the two countries.