Nigeria-China trade hits $18bn in H1’26

Nigeria’s aquatic products have secured zero-tariff access to China’s market of about 1.4 billion consumers under a new protocol, as bilateral trade between both countries reaches $18 billion in the first half of 2026 (H1’26).

The development is expected to boost Nigerian exports and foreign exchange earnings, with Chinese Ambassador to Nigeria, Yu Dunhai, disclosing that Nigerian exports to China rose by 80 per cent in the first half of the year.

The Minister of Power, Joseph Tegbe, who received the Ambassador during a courtesy visit and reception following the signing of the Nigeria-China Aquatic Products Protocol, urged Nigerian exporters and businesses to move swiftly to take advantage of the new market-access opportunity.

In a statement the ministry said the protocol was concluded after nearly five years of negotiations and grants eligible Nigerian aquatic products zero-tariff access to the Chinese market.

Welcoming the Chinese Ambassador, Tegbe expressed appreciation for his continued support for the Nigeria-China Strategic Partnership and efforts to deepen trade and business relations between both countries.

The Minister noted that bilateral trade had reached $18 billion in the first half of 2026, compared with $28 billion recorded for the whole of 2025.

He said implementation of the aquatic products protocol would further strengthen economic ties and help fast-track other initiatives, including the Zero Tariff Agreement for African countries.

Tegbe therefore urged Nigerian exporters and businesses to move quickly to take advantage of the new market-access opportunity. Ambassador Yu reaffirmed the Chinese Embassy’s commitment to supporting implementation of the protocol and facilitating the entry of qualified Nigerian aquatic products into the Chinese market.

He described Tegbe’s appointment as a testament to his leadership, vision and pragmatism, while citing a 35 per cent increase in bilateral trade and an 80 per cent rise in Nigerian exports in the first half of 2026 as evidence of the significant potential for further cooperation.

The Ambassador also assured the Minister of the Chinese government’s support for Nigeria’s efforts to modernise and expand its power system.