Business
Nigeria’s China Imports Up By 183.91%, Debts Hit $3.67bn

Nigeria’s import from China rose by 183.91 per cent from N530.98 billion in the first quarter of 2018 to N1.51 trillion the same period in 2022.
Data on foreign trade from the National Bureau of Statistics (NBS) shows that Nigeria had its relates imports from China.
Specifically, within the period under review, China occupies the first spot out of 10 countries from which Nigeria engaged in import.
Available data further showed that while China is responsible for the bulk of the nation’s imports, export to China is negligible, and the country was missing from the nation’s top 10 export destination in the first quarters of 2018 – 2020, and that of 2022.
In the first quarter of 2021, however, China ranked on the top 10 export destination when it ranked third with N190.11billion. In the same quarter, total imports from China were put at N2.01trillion.
Meanwhile, imports from China grew across the five quarters under review. In Q1 2018, it was N530.98bn, but grew to N979.29 billion in Q1 2019, and N1.11tn in Q1 2020. It was highest in Q1 2021 at N2.01trillion and dropped to N1.51 trillion in Q1 2022.
According to the NBS, imports from China include motorcycles, machines for reception of voice, electrical apparatus for line telephony, or line telegraphy, mackerel, parts of machinery for working on rubber or plastics, crude salt, compressed salt used in animal feeding, antibiotics, and herbicides.
Nigeria’s exports to China in the period under review included, polyethylene, leather, sesamum seeds, cashew nuts, zinc ores and concentrates, as well as lead ores and concentrates.
In Q1 2022, imports to China accounted for 25.55 per cent of the total import of N5.90 tillion; in Q1 2021, it was 29.34 per cent of the total imports (N6.85 trillion); in Q1 2020, it was 26.28 per cent of the total import (N4.22 trillion); in Q1 2019, it was 26.4 per cent of total imports (N3.70 trillion); while it was 21.1 per cent of the total imports (N2.52 trillon) in Q1 2018.
Commenting on the situation, the Chairman, Export Group, Manufacturers Association of Nigeria/Vice Chairman, Sapele Integrated Industries Limited. Mr Ede Dafinone, said there is no equality requirement on imports and exports for nations.
“There is no guarantee or requirement for any country to import and export the same volume from each other.
“If Nigeria is exporting a certain quantity worth of goods and services and importing another quantity of goods and services from another country, the issue is what is the next difference with net import and export.
“There is no requirement as to which country is responsible for this. It doesn’t matter where the deficit is as long as there is an overall surplus, he said.
The bilateral relationship between Nigeria and China has improved in recent years: in the period under review, Nigeria’s borrowing from China increased by 89.94 per cent to hit $3.67 billion, making it the nation’s largest bilateral lender.
According to the Debt Management Office, about $3.12 billion of the loans from China are project-tied.
Such projects include: 11 projects such as the Nigerian Railway Corporation’s modernisation project; Abuja Light Rail project; and Four Nigerian airports’ terminals expansion project in Abuja, Kano, Lagos, and Port Harcourt.
Business
TTP Trains Customs Agents, Freight Forwarders On Eto App
In a concerted effort to tackle racketeering and reduce inflated transportation costs in the Nigeria’s seaports, Trucks Transit Parks Ltd. (TTP) has trained Licensed Customs Agents and Freight Forwarders on the use of its Ètò electronic call-up system.
The training was held recently at Customs Processing Centre (CPC) Auditorium, Apapa, Lagos, in collaboration with the Nigeria Customs Service (NCS) and supported by the leadership of the Joint Association of Licensed Customs Agents and Freight Forwarders (JALCAFF), Apapa Command.
Speaking at the event, Comptroller Babatunde Olomu expressed appreciation to TTP for facilitating the training and emphasized the need for customs agents to take personal ownership of the Ètò booking process.
“I want to thank TTP for this impactful training. I encourage all customs agents to begin doing their own bookings directly. By doing so, they can take back power from the unscrupulous elements exploiting their lack of knowledge, selling tickets at highly inflated prices,” Olomu declared.
He noted that empowering agents with hands-on training was key to dismantling racketeering networks that have plagued access to the ports and frustrated efficient logistics processes.
Also speaking, the Chairman, Apapa Chapter of the Association of Nigerian Licensed Customs Agents (ANLCA), Chief Emeka Chukwumalu, said the engagement was critical to the ongoing push to reduce cargo transportation costs and ease business operations at the Apapa Port.
According to a freight forwarder, “The training is basically for us to have awareness of the operations of the Ètò call-up system through TTP. We also want to brainstorm on ways to reduce the high cost of cargo transportation in Apapa Port.
“This training opened our eyes to how simple it is to book tickets ourselves. We now know the right steps to follow and how to avoid falling victim to fraudsters.”
Earlier, Head of Operations at TTP, Mr. Irabor Akonoman, talked on common misconceptions about ticket pricing, reaffirming that the cost of Ètò bookings had remained consistent since its inception.
“The official price remains the same since inception. What people are paying higher amounts for is the manipulation by racketeers”.
Business
NECA Holds MSME Fair To Drive Growth
Towards strengthening small businesses and promoting a more supportive regulatory environment, the Nigeria Employers’ Consultative Association (NECA) says it will hold the 2025 edition of its flagship MSMEs Fair on Tuesday (May 6, 2025).
The event, themed, “Galvanising MSMEs for Economic Growth and Stability”, will take place at NECA House in Lagos.
According to NECA’s Director-General, Mr Adewale Smatt Oyerinde, the fair seeks to provide micro, small, and medium enterprises with essential tools, resources, and strategic networks to thrive in Nigeria’s challenging business climate.
He emphasised the vital role MSMEs play in national development, describing them as the “lifeblood of Nigeria’s economy.”
Oyerinde noted that the fair is designed to offer entrepreneurs practical solutions to navigate economic uncertainties, regulatory hurdles, and business scalability issues.
A major attraction of this year’s event is the keynote address by the CEO of FATE Foundation, Mrs. Adenike Adeyemi, a prominent advocate for MSME development.
She is expected to share transformative insights on innovative strategies for sustaining and growing small businesses in Nigeria.
A unique feature of the fair will be interactive sessions with key regulatory bodies. Entrepreneurs will engage directly with agencies responsible for licensing, compliance, taxation, and business registration.
NECA said these sessions aim to demystify bureaucratic processes and foster a more enabling business environment.
It also said the fair will provide a platform for entrepreneurs to exhibit their products and services, connect with potential investors, and explore new markets.
It added that participants would gain critical knowledge on digital transformation, access to finance, and strategies for sustainable business growth.
·
· NECA stressed that the fair aligns with its broader mission of promoting enterprise development and economic resilience.
·
· “By empowering MSMEs with the right support and information, the organisation aims to stimulate job creation, innovation, and long-term economic stability”, NECA said.
·
· The 2025 MSMEs Fair is expected to attract a wide range of stakeholders, including financiers, tech experts, regulators, and industry leaders, all united in advancing the growth of Nigeria’s MSME sector.
Business
Over 2m Passengers Board Blue Rail Train – Commissioner
The Lagos State Commissioner for Transport, Mr Oluwaseun Osiyemi, says over two million passengers have been transported on the Blue Line Rail since its launch, while state-run buses move an average of 42,000 commuters daily.
Osiyemi, who disclosed this during the Year 2025 Ministerial press briefing held at the Bagauda Kaltho Press Centre, Alausa, on Tuesday, noted that the Lagos State Transport Policy, launched in May 2024, was now in its implementation phase, focusing on inclusivity, safety, affordability, and sustainability.
“On rail development, Phase One of the Blue Line (Marina to Mile 2) has served over two million passengers, with Phase Two (Mile 2 to Okokomaiko) in progress.
“Phase One of the Red Line (Agbado to Oyingbo) is now operational with eight stations and additional rolling stocks procured, while Phase two (Oyingbo to link Blue Line at National Theatre) is underway”, he said.
The Commissioner said in the state-owned bus operations, over 60 million commuters have been served since 2019, with daily ridership exceeding 40,000.
He also said plans were on to deploy new buses with Quality Bus Corridors under construction, adding that the Abule=Egba Bus Terminal had also been commissioned.
“For water transport, 15 locally-built Omibus Ferries have been launched and are in operation, with the Ijegun Egba Terminal now open.
“The OMI EKO project, in partnership with the French Development Agency (AFD), will deliver 25 terminals and 78 electric ferries.
“Over 280,000 passengers have used ferry services in the past year, and 12 boats have been upgraded to meet safety standards”, he said.
On road infrastructure and traffic management, the Commissioner said 49 junction improvement projects had been completed, including ongoing ones at Ikorodu, Iju, as well as Allen-Opebi-Toyin axis.
He added that solar-powered Traffic Signal Lights, road markings covering 67.9km, new medians, laybys, and 3,941 parking lots had also been provided.
Additionally, Osiyemi announced that the deployed Automatic Number Plate Recognition cameras had detected over 470,000 traffic violations and that the Vehicle Inspection Service issued over one million roadworthiness certificates.
He also said that the Lagos State Drivers’ Institute trained more than 32,000 drivers in the past 13 months.
The event marked the second anniversary of Governor Babajide Sanwo-Olu’s second term, showcasing major strides in the transport sector under the THEMES+ agenda.
Nkpemenyie Mcdominic, Lagos
-
News5 days ago
NBA President Sues For Workers’ Protection, Better Wage
-
News5 days ago
Adeleke Approves N4bn Bond To Clear Pension Arrears
-
News5 days ago
NDDC Seeks UN’s Support To Accelerate Niger Delta Development
-
News5 days ago
2025 UTME: JAMB Disowns Site Requesting Payment From Candidates
-
News5 days ago
May Day: Labour Seeks Inclusiveness In Policy-making
-
Niger Delta5 days ago
Rivers Begins, Supplemental Polio Vaccination, Morrow
-
Featured5 days ago
RSG Commits To Workers’ Welfare …. Calls For Sustained Govt, Labour Partnership
-
Rivers5 days ago
Book Title “Managing Projects Successfully” Launch In Port Harcourt