This study examined trade and investment patterns and their impact on Nigeria’s economic growth in comparison to China. Using a variety of methods, it integrated thematic analysis of interview transcripts with quantitative analysis of trade and investment data. Due to its strategic interest in Nigeria’s natural resources, particularly its oil and minerals, China has made significant infrastructural investments to support the nation’s development. It focused on the results. China is now Nigeria’s biggest trading partner; between 2000 and 2020, trade volumes grew from 2𝑏𝑖𝑙𝑙𝑖𝑜𝑛𝑡𝑜20 billion. The substantial increase in Chinese foreign direct investment (FDI), particularly in the manufacturing, energy, and infrastructure sectors, enhanced Nigeria’s GDP. Regression analysis revealed a strong correlation between GDP growth and Chinese FDI, with GDP rising 0.75 percentage points for every billion USD in FDI. The study addressed a number of issues, including the sustainability of debt resulting from Chinese loans, the dominance of Chinese companies in significant industries, and the negative consequences of trade imbalances on Nigeria’s economic growth. The findings show that Nigeria needs to carefully manage its economic ties with China in order to preserve its financial stability and boost the competitiveness of its domestic industry.
Chinomso et al. (Wed,) studied this question.