NIGERIA-CHINA TRADE RELATIONS AND ECONOMIC DEVELOPMENT IN NIGERIA 2015-2022

Nigeria and China share several similarities, including their ethnic diversity and vast resources, both in minerals and human capital. While China boasts the largest single market in the world, Nigeria holds the same status in Africa. This study focused on evaluating the trade relations between Nigeria and China and their impact on Nigeria's economic development between 2015 and 2020. The key question was whether these trade relations had successfully promoted economic growth in Nigeria during this period. The study aimed to determine if bilateral trade agreements between the two nations had increased the value of Chinese trade with Nigeria and whether the growth in Nigeria-China trade volume had contributed to Nigeria's economic development. Using historical and descriptive research methods, data were sourced from secondary materials. The unequal exchange theory was employed as the analytical framework. The findings revealed significant economic complementarities between Nigeria and China, with the engagement contributing to national development in Nigeria through technological advancements, job creation, and Chinese development assistance. Ultimately, the study recommended that Nigeria adopt strong economic policies that prioritize national interests to guide its bilateral and multilateral economic relations.