Nigeria, China trade volume hits $85billion

Adoba Echono, Abuja


The total trade volume between Nigeria and China is estimated to be 85 Billion US dollars.

The Economic and Commercial Councilor, China embassy in Nigeria, Mr. Zhaor Lin Xiang, who disclosed this at a media parley in Abuja, added that the figures was based on the trade volume recorded as at July this year.

Mr. Xiang also expressed the Chinese government’s commitment towards increasing economic ties between Nigeria and the Asian giant.

“Exports to Nigeria from China cumulated to 75 billion dollars and 9.6 billion dollars from the Nigerian side”.

“This shows that Chinese products are very popular in Nigeria and it is meeting the needs of Nigerians,” the envoy noted.

The Charge’d Affair, Chinese Embassy in Nigeria; Mr. Lin Jing reassured that China will continue to explore means that would improve economic and bilateral cooperation with Nigeria.

He stated that the Beijing action plan 2019-2021 has as a cardinal point of action, the industrial and capacity building programme for African countries.

“This will translate to the establishment of 10 Lubab training centres; these centres will equip Africans with unique manufacturing skills, and provide 50,000 scholarships opportunities,” Mr Jing disclosed.

He said China will support Nigeria in producing products that meet international competitiveness standards, adding that in November, China will host an import-export trade fair meant to attract more trade and investments from other countries, as a way of improving bilateral trade.

The Chinese embassy also refuted claims that China is on a mission to colonize Africa, stating that the Chinese President is doing all he could to ensure equality in all his dealings with the continent.

You are aware that President Xi Jinping presented five major approaches that will guide China relationship with Africa,” he stated.

He said these approaches are “No interference with African countries pursuit in the development path, No interference in internal affairs, No imposition of our will on African countries, no attachment of political gains”

Mr. Jing described the approach as what have made the relationship between his country and Africa a successful one

The envoy noted that remarkable achievements have been recorded between Nigeria and China since the two country established bilateral ties.