Nigeria and Vietnam celebrate historic $1bn trade milestone as APC Chairman and Vietnamese Ambassador discuss collaboration in agriculture, infrastructure, and commerce

The National Chairman of the All Progressives Congress (APC), Professor Nentawe Yilwatda, met with the Ambassador of the Socialist Republic of Vietnam to Nigeria, Bui Quoc Hung, to discuss strengthening bilateral relations, following a historic milestone of $1 billion in trade between the two countries.

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During the courtesy visit at the APC national secretariat in Abuja, both leaders explored avenues for expanded cooperation in agriculture, infrastructure, trade, and party-to-party relations.

Yilwatda congratulated the Vietnamese government and the Communist Party of Vietnam on their 80th anniversary, describing it as “a remarkable demonstration of political stability and continuity.”

The APC Chairman highlighted Nigeria’s democratic progress, acknowledging President Bola Ahmed Tinubu’s contributions to democratic governance.

He also underlined Nigeria’s economic growth, noting that the country now records about four percent annual growth, with per capita growth among the strongest in Africa and a contribution of approximately 1.5 percent to global GDP.

Yilwatda further emphasised infrastructure development, citing projects such as the Sokoto–Badagry highway and Lagos–Calabar Coastal Highway, which are designed to boost trade, support agriculture, and enhance connectivity across Nigeria.

On agriculture, he highlighted Nigeria’s fertile lands and potential to become a regional food hub for neighbouring countries such as Niger, Burkina Faso, Chad, and Sudan.

Ambassador Bui Quoc Hung praised the growing bilateral relationship, noting that cooperation now spans politics, trade, defence, and people-to-people exchanges.

He highlighted that Nigeria-Vietnam trade reached $1 billion in 2024/2025, up from an annual average of $600 million. Vietnam imports crude oil and raw materials from Nigeria while exporting textiles and other goods.

Looking ahead, the Ambassador expressed Vietnam’s interest in collaborating with Nigeria in rice production, proposing to combine Nigeria’s fertile land with Vietnam’s advanced agricultural technology to cultivate rice locally rather than exporting it.

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The discussions underscored both countries’ commitment to deepening economic cooperation, fostering sustainable development, and enhancing regional trade integration.