COVID-19, Sino-Nigeria Economic Relations and Consequences of Trade Deficits in Nigeria

Abstract

The COVID-19 Pandemic has disrupted the world economic and diplomatic relations between nations. The study investigates the effect of COVID-19 Pandemic on the political and economic ties between China and Nigeria. The consensus from recent literature shows that the Coronavirus pandemic has adversely affected economic and diplomatic relations between the two states. In particular, it has exposed Nigeria’s over-reliance on importation from China. A mixed methodology was used to perform analysis of recent and past trade relations between China and Nigeria. We analyzed secondary data from UN COMTRADE on past trade relations with China. The outcome of the study shows that Nigeria trade relationship with China is booming. However, in the last decade, Nigeria has imported more foreign products from China than exportation. We also outline a necessary readjustment for trade balance to ensure an equal exporting opportunity to China to boost the Nigeria economy. It is crucial to stabilize relations between China and Nigeria as both countries need each other towards Sino-Nigeria Economic partnership.