This paper examines the economic bilateral diplomatic relationship between Nigeria and China, especially since Nigeria returned to democracy in 1999. The paper argues that while official diplomatic ties were established between the two countries as early as 1970, there was not much bilateral economic, even political, relations between them until recently. However, since 1999, which coincided with the Chinese new orientation towards Africa, there has been an exponential economic relationship between the two countries. The main question this paper grappled with is whether the relationship between the two countries is inter-dependent or not? The paper is wholly qualitative and gathered its data mainly from secondary sources. The paper is based on the dependency theory and the theory of unequal exchange. Findings of the study revealed that, while Nigeria had benefitted immensely from its economic bilateral engagements with China, the relationship is largely imbalance with China being the dominant partner. josha.org