Nigeria-China Trade Relations and Economic Development in Nigeria, 2001-2013

Over the past several decades, the economies of the world have become greatly connected through international trade and globalization. The trade relations between Nigeria and China have grown in recent years. Overtime, researchers have contributed on the Nigeria-China relations with interest on foreign aids, balance of trade, foreign direct investment and trade policies between the two countries. Most of them anchored their explanation on dependency theory. They pay less attention in explicating the relations in terms of mutual benefits arising from the relations. However, this study examined Nigeria-China trade relations and economic development in Nigeria in order to establish an understanding of the impact of Nigeria-China bilateral agreements on the volume of Chinese trade with Nigeria and to establish a link between the increase in the volume of Nigeria-China trade on economic development in Nigeria. The study was guided by two research questions: Has the Nigeria-China bilateral trade agreements enhanced the volume of Chinese trade with Nigeria? Has the increase in the volume of Nigeria-China trade enhanced economic development in Nigeria? To analyze the issues and questions raised, the study was anchored on the theory of complex interdependence. The study adopted the qualitative method of data collection and analysis; it relied on secondary sources of data. The study found that Nigeria-China bilateral trade agreements had a positive impact on the volume of Chinese trade with Nigeria; and more so, the increase in the volume of Nigeria-China trade enhanced economic development in Nigeria within the period of study. The study recommended that the Nigerian government should utilize its own talent by pooling together leading scholars, officials, businessmen and civil society representatives to form a committee dedicated to prescribing ideas on how to optimize Chinese engagement.

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