The Chinese Embassy in Nigeria has said imports from Nigeria into the Chinese market rose by 81 per cent in the first half of 2026, attributing the increase to expanding bilateral trade and China’s zero-tariff policy for Nigerian products.

The embassy stated that, according to Chinese statistics, China’s imports from Nigeria totalled $`2.25n between January and June 2026, compared with the corresponding period last year.

It also disclosed that China’s imports from Nigeria reached $360m in May, representing a 44 per cent year-on-year increase, and rose further to $440m in June, up 42 per cent.

The position was contained in a statement issued on Wednesday and signed by the spokesperson for the Chinese Embassy in Nigeria, Zhu Songbo.

The embassy said its verification of the figures, following an analysis of data published by the National Bureau of Statistics, showed that the discrepancy with Chinese records was due to differences in statistical methodology.

It maintained that Chinese investment in Nigeria is largely in the form of long-term direct investment focused on the real economy.

The PUNCH had reported that capital inflows from China into Nigeria fell by 40.9 per cent in the first quarter of 2026 despite the Federal Government’s announcement that it had secured over `$20bn in investment commitments from Chinese investors across manufacturing, energy, mining, agriculture and other sectors.

An analysis of the National Bureau of Statistics’ Capital Importation Report for Q1 2026 also showed that capital importation from China declined to 9.39m in the corresponding quarter of 2025, representing a year-on-year decrease of 40.89 per cent.

The report added that the latest figure represented a 13.69 per cent decline from the $`6.43m recorded in the fourth quarter of 2025, indicating that Chinese capital inflows weakened on both annual and quarterly bases despite growing economic ties between the two countries.

The embassy, however, explained, “According to Chinese statistics, China’s direct investment in Nigeria exceeded US $50 million in the first quarter of 2026, broadly unchanged from the same period last year.

“The apparent difference between the two sets of figures is primarily attributable to differences in statistical methodology. China’s investment in Nigeria mainly takes the form of direct investment, with a strong focus on the real economy, including manufacturing and infrastructure.

“Such investment is characterised by its long-term orientation and commitment to mutually beneficial cooperation, with the aim of supporting Nigeria’s sustainable economic development and industrialisation.”

The embassy said similar discrepancies had occurred in previous years, noting that while Nigerian statistics recorded Chinese capital importation at US 38.66m in 2025, Chinese records put direct investment at about US 390m in 2025.

It stated, “Similar differences have been observed in previous years as well. According to Nigerian statistics, China’s capital importation into Nigeria amounted to US 38.66 million in 2025. According to Chinese statistics, however, China’s direct investment in Nigeria reached approximately US 390 million in 2025, representing 2.6 times and 10.1 times the corresponding Nigerian figures, respectively.”

The embassy also highlighted the activities of Chinese firms operating in Nigeria, particularly in the Lekki Free Trade Zone, saying cumulative investment in the zone had exceeded US$`1.5bn, created more than 8,000 direct jobs, and that seven new enterprises were established in the first half of 2026.

“An increasing number of Chinese enterprises remain confident in Nigeria’s long-term development prospects and are committed to engaging with the local market. The Lekki Free Trade Zone, where many Chinese enterprises are located, is a good example. To date, cumulative investment in the Zone has exceeded US`$1.5 billion, creating more than 8,000 direct jobs, while seven new enterprises were established in the first half of 2026 alone.

“Chinese enterprises continue to inject new momentum into Nigeria’s economic and social development by promoting industrial growth, generating tax revenues, creating employment opportunities and improving people’s livelihoods.

“According to Chinese statistics, China’s imports from Nigeria reached US 440 million in June, up 42 per cent. During the first half of 2026, China’s imports from Nigeria totalled US$2.25 billion, representing an increase of 81 per cent compared with the same period last year,” the embassy said.

On bilateral trade, the embassy said China and Nigeria enjoy highly complementary economies and that bilateral economic and trade cooperation would continue to maintain strong momentum.

“Since May 1, 2026, China has granted zero-tariff treatment on 100 per cent of tariff lines to products originating from Nigeria and 52 other African countries having diplomatic relations with China. The positive impact of this policy has already begun to emerge,” the embassy added.