₦airaland Forum

Reports just coming in inform that China has stepped forward to buy more oil from Nigerian Federal Government.
Making this cheery announcement on Thursday was China’s Deputy Chief of Mission in Nigeria, Mr. Zhang Bin.
According to the diplomat, the Chinese government is looking forward to importing more of Nigeria’s oil following the loss of America’s market.

Zhang disclosed that 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.


Zhang also informed that 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.
He said the figure exceeded that of 2013, which he put at $13.5 billion.
oil
“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,” he said.

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.
He revealed that the business volume of just one Chinese telecommunication company in Nigeria for a year was huge, putting it at about $1 billion.

OPEC PRODUCTION LEVEL
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.
It would be recalled that since the slump in the price of crude oil in the global market coupled with the reduction of amount of crude oil exported to the United State, the amount of revenues Nigeria generates from crude oil has reduced significantly.
A situation that had led to the devaluation of the Naira by the Central Bank of Nigeria.
The CBN officials explained that the move to lower the value of the naira against the dollar was aimed at strengthening the currency in the course of the dwindling oil price.

CBN governor Godwin Emefiele also urged the government to speed up the process towards the immediate passage of the Petroleum Industry Bill (PIB) pending passage for the past two years.

https://i.cdnnaij.com/o/fkvwaFqgkvjEqRmSEiQOiprx.jpg


http://www.naij.com/375719-good-news-nigeria-gets-new-buyer-for-its-crude-oil.html

Bad news if you ask me. I want the government to be forced to diversify the economy.

they also need to replace the drone that crashed.
we are paying their drone operators to get manhours learning to fly that thing.

And Mr Mao Ze Dong,
we need two thousand shilka guns to finish off boko haram.
My oga needs one to do the work well well.
So do the needful quick, quick.

Vessi:
Bad news if you ask me. I want the government to be forced to diversify the economy.

if you read the op you will notice that he didn't talk about oil only .

LRNZH:
What is good about his news? The oil will be sold on credit without the premium for low sulphur content.

Can't wait for May 29th when GEJ will handover (in absentia) to GMB.

Why in absentia?

Nice!! Fvck those red neck, black hating bloody Americans

Vessi:
Bad news if you ask me. I want the government to be forced to diversify the economy.

Maybe you didn't read the below bolded part.

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.

papaejima1:
Maybe you didn't read the below bolded part.

apc people are very ignorant!
they will soon say china has hacked the oil.

A welcome development. President Muhammadu Buhari will consolidate on Nigeria-china relationship and othrs to ensure that Nigerians benefit maximally from these bilateral agreements. Support Muhammadu Buhari 4 President 2015

barcanista:
A welcome development. President Muhammadu Buhari will consolidate on Nigeria-china relationship and othrs to ensure that Nigerians benefit maximally from these bilateral agreements. Support Muhammadu Buhari 4 President 2015

madman.
you better start roaming make we see road.

tit:
apc people are very ignorant!
they will soon say china has hacked the oil.

Baddest babe ever liveth...

Good development but diversifying the economy is the sure way.
Let our state government generate their own money

tit:
madman.
you better start roaming make we see road.

you sit-down on top your husband laps de call me mad man? I no blame you, na the thing wey you de enjoy de confuse you.

Lovely News! GEJ's Nationalistic Tendencies endear me to him!
Sometimes I feel he's being Victimised by the West for this!

I laugh at the West in this Election! Both Presidential Candidates are fiercely Nationalistic! So I see a Continuous shift to the East henceforth!

Nice One GEJ!

LRNZH:
Do you think GEJ will wait for GMB to take over before jetting out of Nigeria on exile?
My Izon friend told me that GEJ cannot return to Bayelsa after losing the 2015 elections because he hasn't done anything for Bayelsans.
Infact, with the corruption charges that will be on his head, jail won't be too far away.

If he has any brain cells left, he will just runaway with PEJ while Sambo does the handover ceremonies.

Lol, so Sambo will remain behind?

Anyway, let's face the topic.

tit:
madman.
you better start roaming make we see road.

barcanista, i said it that musiwa and cramjones are looking for you and omenka and berem they want to share their pschiatric drugs with you

GET 100 NAIRA 1 MONTH AIRTEL DATA & 3GB+ GLO DATA FOR 1,000 NAIRA PER MONTH [Perfect for ANDROID/PC/BB]

tit:
madman.
you better start roaming make we see road.

that barcanista comment pain you to the bone

You must be a joker!

Wow! Buhari has already started stabilising oil price. He also got us the new buyers.! Vote him! Vote him!

nwafuluozoh:
Wow! Buhari has already started stabilising oil price.

you are the next @tit going to call madman



Can't fit lauf pls

BRAV0O:
you are the next @tit going to call madman



Can't fit lauf pls

Don't mind him. He's jealous of Buhari and his cows.

barcanista:
A welcome development. President Muhammadu Buhari will consolidate on Nigeria-china relationship and othrs to ensure that Nigerians benefit maximally from these bilateral agreements. Support Muhammadu Buhari 4 President 2015

One question pls - how much did they pay you?

Vessi:
Bad news if you ask me. I want the government to be forced to diversify the economy.

Yeah, bad news.

One nigeria is this country biggest problem.

One nigeria has failed this country.

No10:
One question pls - how much did they pay you?

N0.00

Now oil is cheap, China dey buy in bulk dey store for reservoirs...if Nigeria was diversified, we are supposed to have reduced our daily output at this time and only produce to cater for expenses....when the oil price increases, we kick up production.

barcanista:
A welcome development. President Muhammadu Buhari will consolidate on Nigeria-china relationship and othrs to ensure that Nigerians benefit maximally from these bilateral agreements. Support Muhammadu Buhari 4 President 2015

Have u ever imaging , buhari addressing china delegate or dere president ....with d way he talks?.

this is good news joor,oil will sell and the economy will still be diversified,my Gej is doing something about it.

decasey:
Have u ever imaging , buhari addressing china delegate or dere president ....with d way he talks?.

Na you help am during his term as HoS? Are you more eloquent than the General?

Great news huh!