Bilateral trade between Nigeria and Vietnam has recorded impressive growth over the past decade. What started at around 250 million dollars in 2015 has now climbed to more than one billion dollars in recent years.

This remarkable increase shows the strengthening economic bonds between the two nations and opens new doors for businesses on both sides.

The Vietnamese Ambassador to Nigeria, Bui Quoc Hung, shared this positive update during a press briefing in Abuja. He noted that the trade volume crossed the one billion dollar mark for two straight years in 2024 and 2025. According to him, this fourfold growth highlights deeper cooperation and more business opportunities developing steadily between Nigeria and Vietnam.

Nigeria supplies key raw materials to Vietnam, including crude oil, liquefied natural gas, and raw cashew nuts. In return, Vietnam sends a wide range of finished goods to Nigeria such as textiles, footwear, plastics, telephones, electrical parts, agricultural machines, and medicines. These exchanges help meet needs in both countries and support local industries.

Beyond trade, the two countries are also working together in areas like investment and energy. Vietnamese companies have supplied high-speed patrol boats to Nigeria and offered ship repair services.

Discussions are ongoing to expand ties in oil and gas as well as maritime transport, showing a broadening partnership.

As Nigeria and Vietnam mark 50 years of diplomatic relations, both sides remain optimistic about the future. The ambassador described Nigeria as a vital partner in Africa and expressed hope for even stronger collaboration in trade, agriculture, security, education, and cultural exchanges. This growing relationship promises more benefits for businesses and people in both nations.