The Maritime Reporters’ Association of Nigeria (MARAN) is set to host a pivotal event, “Navigating the Nigeria-Peoples Republic Of China Currency Swap: Opportunities and Challenges for Import, Export and Maritime Business,” on April 15, 2025, at the Rockview Hotel in Lagos.
This landmark event aims to bring together critical stakeholders in the import and export business, policy-makers, and government agencies to examine the Nigeria-China Currency Swap deal and its implications on the maritime industry.
The currency swap agreement, worth 15 billion Yuan ($2 billion), enables the direct exchange of the Chinese Yuan and the Nigerian naira, bypassing the US dollar.
This groundbreaking deal is expected to foster stronger bilateral trade, reduce transaction costs, and boost economic cooperation ¹.
Godfrey Bivbere, President of MARAN, emphasized the importance of interrogating the policy further, given China’s significant role as Nigeria’s biggest import partner and the debilitating effect of the American dollar on importation.
Expected participants at the event include the Central Bank of Nigeria (CBN), the Nigeria-China Strategic Partnership (NCSP), Chinese Embassy, Ministry of Finance, importers, exporters, maritime operators, policy-makers, economists, financial institutions, and trade organizations.
The event aims to provide an enhanced understanding of the Nigeria-Peoples Republic Of China currency swap and its impact on stakeholders in import, export, and maritime businesses.
It will also identify potential risks and opportunities arising from China’s growing economic influence in Nigeria and provide actionable recommendations for stakeholders to navigate changes in the trade and maritime landscape.
