China Exports to Nigeria Hit $75bn; Nigeria’s just $9.6bn
Recently calculated total exports to Nigeria from China amounted to about $75 billion while on the Nigerian side, total export to China was about $9.6 billion.
This took the total trade volume between the two countries, as at July this year, to about $85 billion.
The Economic and Commercial Councilor, China Embassy in Nigeria, Zhaor Lin Xiang, disclosed this yesterday at a press briefing on the outcomes of the Forum on China-Africa Cooperation (FOCAC) Beijing summit.
An elated Xiang said these figures indicated that Chinese products were very popular in Nigeria and they are meeting the needs of Nigerians,” he noted.
Similarly, the British High Commissioner to Nigeria, Mr. Paul Arkwright, yesterday, said the United Kingdom was poised to double the annual trade volume of £4.2 billion between the two countries..
The Chinese Councilor, Lin Xiang explained that the figures he presented were based on the trade volume recorded as at July this year, adding that the Chinese government was planning to increase economic ties between Nigeria and the Asian continent.
Also speaking at the media parley, the Charge’d Affair, Chinese Embassy, Lin Jing said that the Beijing action plan 2019-2021 has as a cardinal point of action, the industrial and capacity building programme for African countries.
According to him, “This will translate to the establishment of 10 Lubab training centres; the centres will equip Africans with unique manufacturing skills, and provide 50,000 scholarships opportunities.”
Lin Jing also stated that China would continue to explore means that would improve economic and bilateral cooperation with Nigeria.
He said China would support Nigeria in manufacturing products that meet international standards, adding that in November, China would host an import-export trade fair meant to attract more trade and investments from other countries, as a way of improving bilateral trade.
The Embassy of China in Nigeria however frowned at the insinuation that China was on a mission to colonise Africa, adding that the Chinese president was doing all he could to ensure equality in all his dealings with the continent.
“As you all know, President Xi Jinping presented five major approaches that will guide China relationship with Africa.
“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,” Jing said.