Nigeria-Vietnam Trade Surges to Over $1 Billion by 2025

Trade relations between Nigeria and Vietnam have significantly expanded, growing from approximately $250 million in 2015 to a projected $1 billion by 2025. Ambassador Bui Hung Sai disclosed this information during a press briefing in Abuja, commemorating the 50th anniversary of diplomatic relations between the two nations.

The bilateral trade turnover has increased notably over the past decade, with figures reaching around $300 million in 2016 and hovering between $500 million and $600 million in recent years. Nigeria primarily exports crude oil, liquefied gas, and agricultural products, while Vietnam exports textiles, footwear, and agricultural machinery.

The ambassador emphasized the importance of cooperation in energy, maritime transport, and agriculture, noting a memorandum of understanding signed between the Nigeria Cashew Association and the Vietnam Cashew Association in October 2025 to enhance collaboration in the cashew sector. The ambassador expressed optimism for stronger cooperation across various sectors, including agriculture, security, and cultural exchanges.