China- Nigeria trade volume hit $15.3bn




The China non financial investment in Nigeria has approached about three billion dollars while the China-Nigeria bilateral trade volume soared to 15.3 billion dollars in 2018; 10.8% higher than last year.

Charge d’Affaires of the Embassy of People’s Republic of China, Zhao Yong, said this Tuesday at the 2019 “Belt and Road” Nigeria and China Economic and Trade Forum held at the International Conference Centre, Abuja.

He said this is contributing significantly to Nigeria economic diversification and creating millions of job vacancies for Nigerian workers.

“Belt and Road initiative with the full name of the Silk Road Economic Belt and the 21st. Century Maritine Silk Road is an open and inclusive international platform provided by China with the principle of achieving share growth through discussion and collaboration.

“Reviewing the China-Nigeria economic corporation, we have obtained enormous and spectacular accomplishment in infrastructure construction, investment, trade and bilateral humanitarian aid.

“In terms of investment, according to incomplete statistics at the end of 2018, the China non financial investment in Nigeria approaches 2.8 billion dollars, contributing significantly to Nigeria economic diversification and creating millions of job vacancies for Nigerian workers.

“Ogun Guangdong and Lekki Free trade zone is flourishing with  about 190 registered enterprises, bringing 63 million dollars total investment.

“There are also hundreds of Chinese enterprises of different scale in every states of Nigeria in every area of Nigeria economy, thriving in its maximum efforts and contributing to the Nigerian economy.

He stated that, “China has yielded vast achievement in industrialisation in the past 40 years since the introduction of opening-up policy, and now China is willing and ready to echo president Buhari’s diversification policy and stimulate the investment in Nigeria industry fields.

“In terms of trade, the China-Nigeria bilateral trade volume soared to 15.3 billion dollars in 2018, 10.8% higher than last year.”

Representative of the minister of FCT, acting group managing director, Abuja Investment Company Limited Mallam Abubakar Sanni Pai, said, the FCT is already a beneficiary of the ever expanding economic and bilateral relationships between Nigeria and Chinese government.

The president of China General Chamber of Commerce in Nigeria, Ye Shuijin, said, China will continue to support Nigeria to improve the living standard of the Nigerian people and will bring more China investors to Nigeria.

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