The trade relation between Nigeria and China received a boost in 2013 as it reached a record $13 billion USD mark in 2013.
Mr Deng Boqing, outgoing Chinese Ambassador to Nigeria, who dislocated this however said there is need boost ties in the oil and gas sector.
The Envoy who was speaking at a farewell reception organised in his honour in Abuja, also said that Chinese companies are being encouraged to establish factories in Nigeria to create jobs for the locals.
He thanked the Central Bank of Nigeria (CBN) for including renminbi, the Chinese currency, in its foreign exchange reserves, the very first one in Africa to do so.
His words, “Last year trade volume was almost double of that of four years ago. According to statistic trade value between the two countries is almost $13 billion.
“If we discuss the detail of trade volume we will find out that more goods were imported from China to Nigeria, we are hoping that the trade in oil and gas will also increase.
“We are aware that more than 30 percent of Nigeria oil product especially crude oil export to America and only one percent is been export to China.
“We are also increasing agricultural products and some Nigerians industrial product, so that is why we encourage the Chinese companies to do their business especially establishing factories in Nigeria in other to increase jobs opportunities for Nigerians, and industrialize products for Nigerians and for the rest of the continent even for the China. So, it will be very important if there is increase in trade in oil.”
Ibrahim Mantu, a former Senator in his remarks, 70 percent of Nigeria’s development today was being headed by China, saying “they are doing the job better and cheaper. If the people that colonize us are doing what the China s doing, I am sure that by now Nigeria would have gone far.”
