Following the loss of America’s
market for its crude oil last
year, China has stepped
forward to fill the gap by
pledging to buy more oil from
Nigeria.According to the country’s Deputy Chief of
Mission in Nigeria, Mr. Zhang
Bin, the Chinese government is
looking forward to importing
more of Nigeria’s oil, reported
the News Agency of Nigeria (NAN). Zhang said China was
interested in Nigeria’s oil and
that when President Goodluck
Jonathan visited China in 2013,
the country discussed the
possibility of importing more oil from Nigeria. “And I think we are working
on this and we hope that the
Nigerian side would allow us
to import more. “Actually what we are looking
at is improved economic
cooperation between the two
countries, we are the third
largest trade partner with
Nigeria”, he said. He also said the trade volume
between Nigeria and China in
2014 exceeded $16 billion, but
his country was looking at
possibilities of improving
balancing of trade with Nigeria. Zhang said the figure
exceeded that of 2013, which
he put at $13.5 billion.
He said: “In 2013, the trade
volume between Nigeria and
China was $13.5 billion and then according to our
statistics, from January to
November 2014, the trade
volume already amounted to $
16.47 billion. “So that means that in the first
11 months, the trade volume
exceeded that of the year
2013, which indicates an
increase of 35 per cent over
the previous year. “We do have this problem of
trade imbalance and the
Chinese side is going all out to
solve it. “One of the solutions is that
we encourage more Chinese
enterprises and companies to
import more from Nigeria,
especially agriculture products
and also some of the manufactured products.” The envoy explained that a
few years ago, China started
importing cassava and some
agriculture products like cocoa
and palm oil from Nigeria. Zhang said due to the joint
efforts of both sides, imports
into China from Nigeria had
increased by a large margin
last year. According to him, in the first
11 months, there was an
increase of 93.7 per cent in
China’s imports from Nigeria,
adding that the import
percentage was almost doubled. The Chinese official said his
country encourages its
companies in Nigeria to invest
in telecommunications,
agriculture, automobile
assembling, food processing, energy, mines and solid
minerals. Zhang said China’s competitive
telecommunication companies
like Huawei and ZTE currently
supply the Nigeria’s network
operators with terminals and
broadbands. Zhang revealed that the
business volume of just one
Chinese telecommunication
company in Nigeria for a year
was huge, putting it at about $
1 billion. According to him, China and
Nigeria were also working on
other projects like the
rehabilitation projects for the
Nigerian Railway Corporation
and the Zungeru hydropower project in Niger State. http://nigeriacamera.net/china-to-buy-more-crude-oil-from-nigeria/

relieved!

Finally some good fvcking news...

All the Buhari this, GEJ that don tire pesin abeg

Bad news actually....

Idrismusty97:
Bad news actually....

Give reasons

and those mumu will say our oil is useless.

eunisam:
releived!

This your" releived" dey normal so? Or is it the rush to be FTC?

Nairaland has gone worldwide. Pls do the needful and save us the embarrassment.

To my chinese people, thanks for coming to our rescue. .

vanndubi:


This your" releived" dey normal so? Or is it the rush to be FTC?

Nairaland has gone worldwide. Pls do the needful and save us the embarrassment.

To my chinese people, thanks for coming to our rescue. .

my brother sorry oh Lalasticlala, Obinoscopy,
Ishilove do the needful.