Nigeria-Vietnam Trade Volume Reached $1bn in 2024, Says Envoy

Linus Aleke in Abuja

The Vietnamese Ambassador to Nigeria, Mr Bui Quoc Hung, yesterday said that current data reveals that the trade volume between Vietnam and Nigeria, Africa’s largest economy, reached $1 billion in 2024.

He noted that this is the first time in the history of trade relations with Nigeria that the trade volume between the two countries had exceeded $600 million, reaching a record high of $1 billion.

The Vietnamese envoy made this revelation in Abuja during a Roundtable Discussion at the Armed Forces Officers’ Mess, Asokoro, to commemorate the 135th birthday anniversary of President Ho Chi Minh.

He said: “Normally, we get only $500 or $600 million, but last year it was $1 billion for the first time. We still have to try very hard because there are many opportunities for cooperation in terms of trade and investment between our two countries.”

He stressed that the life of President Ho Chi Minh is a great epic of wholehearted devotion to national independence, freedom, and the happiness of the people. The Vietnamese diplomat said that Ho Chi Minh not only made history but also left a priceless spiritual legacy for the Vietnamese nation.

He added that his ideology, ethics, and lifestyle would forever serve as a guiding light for the cause of national construction and defence today and in the future.

Speaking on behalf of the federal government, the Deputy Director of the Asia and Pacific Division, Ministry of Foreign Affairs,  Mohammed Haidara, said that Ho Chi Minh’s legacy is one that transcends borders, generations, and ideologies, embodying the spirit of resilience, nationalism, and the unwavering pursuit of freedom.

He stressed that Nigeria recognises and deeply respects the contributions of Ho Chi Minh, not only as the founding father of modern Vietnam but also as a beacon of inspiration for all nations striving for sovereignty, dignity, and self-determination.

“His leadership exemplified the courage required to challenge oppression, the wisdom to unite diverse aspirations, and the foresight to build a nation that stands proudly among the global community today. The relationship between Nigeria and Vietnam has grown significantly over the years, rooted in mutual respect, economic cooperation, and diplomatic solidarity.

“As two nations committed to progress, peace, and sustainable development, we acknowledge the enduring lessons from Ho Chi Minh’s vision – lessons that reinforce the importance of national unity, economic resilience, and the tireless pursuit of a better future for our people,” he added.

The President of the Nigeria-Bangladesh Business and Technology Forum,  Bob Achanya, stressed the importance of deepening bilateral relations with Vietnam, particularly in the areas of business, technology, and sustainable development.

He noted that Minh’s vision of international cooperation and equitable development provides a timely framework for addressing the challenges facing Vietnamese joint ventures in Nigeria.

He called for the repositioning of bilateral trade between the two countries through strategic partnerships.