China's import from Nigeria reaches N25.7 trillion by September

China's imports from Nigeria increased by 36.1 percent year-on-year, reaching an all-time high of $15.1 billion (about N25.7 trillion) between January and September 2024.

The Acting Consul General of the Consulate-General of China, Mr Jin Mingyu, made the disclosure at a civic reception organized to welcome the arrival of the first vessel on COSCO's new route to dock at Lekki Port.

He explained that, as of September, Lekki Port's 2024 cargo throughput exceeded 160,000 twenty-foot equivalent units (TEUs), adding that the Chinese government looks forward to seeing more merchant ships transporting unique Nigerian products to China.

According to him, the growth of China-Nigeria trade relies mainly on collaboration, saying that the Chinese government hopes to see multinational enterprises working together to facilitate trade, build a modern port and logistics network in Nigeria, as well as share access to the vast Chinese market and realize the benefits of development.

He stated that both countries can seize the opportunity that globalization offers to developing countries worldwide.

The arrival of EA CENTAURUS marks a new breakthrough for Lekki Port in international shipping and will inject fresh momentum into Nigeria's economic development, expanding the boundaries of cooperation between China and Nigeria in various sectors.

He explained that it is a landmark project for Chinese companies in investment and construction, as well as a successful model of multinational cooperation for shared success in Nigeria.

COSCO, a global leader in the shipping and logistics industry, has launched a new route in partnership with Lekki Port, symbolizing further breakthroughs in China-Nigeria collaboration in port construction and operation.

In 2023, he said that bilateral trade between China and Nigeria reached $22.56 billion, with Nigeria ranking as China's third-largest trading partner in Africa.

Du Ruagang, Managing Director of Lekki Port, stated that the berthing of EA Centaurus, marking the first of bi-weekly calls to Lekki Deep Sea Port by COSCO, ZIM, and ONE shipping lines, is a symbol of the company's unwavering dedication to positioning Lekki Port as a transformative force in the Nigerian maritime industry.

The Port Manager of Lekki Port, Emmanuel Anda, stated that the arrival of EA Centaurus marks a new dawn for the port.

Anda, who represented the Managing Director of the Nigerian Ports Authority (NPA), Abubakar Dantsoho, disclosed that the giant stride makes Lekki Port a trade hub in the sub-region.