Economy & Finance

China Shows Interest In Nigeria’s Oil


In spite of the recent change in the global oil prices, has said it is seeking more export from Nigeria, the Economic and Commercial Counsellor of the in Nigeria, Mr. Zao LingXiang, said this in an interview with the News Agency of Nigeria in Abuja.

’s oil’s export in 2015 is about 1.3 per cent of Nigeria’s annual oil export, it exported about one million barrel in 2015.

“in my opinion, it really doesn’t matter whether Iran comes back or not; Chinese companies want to import more from Nigeria,” LingXiang said.

He added that the current trade volume between both countries stood at $14.94bn in 2014, making Nigeria the third largest trade partner of China in .

The economic counsellor added that Nigeria’s trade figure was 8.3 per cent of China’s total trade volume with , and 42 per cent of the total between his country and .





Source: The Punch

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