You’re no longer our second biggest trade partner, China tells Nigeria

You’re no longer our second biggest trade partner, China tells Nigeria
February 18 08:20 2017

In the midst of rising inflation and economic recession, Nigeria has been told she is no longer Chinese second biggest trade partner in Africa.

According to the Chinese Ambassador to Nigeria, Zhou Pingjian, Nigeria recently slipped to fourth on the log.

He however added that the relationship between the two countries still had a lot of business potentials.

Speaking during the visit of the House of Representatives Committee on Nigeria-China Relations to the CGCOC headquarters on Friday in Abuja, the envoy stated that his country’s desire was for Nigeria to attract massive Foreign Direct Investment, which he said was needed for the country’s development.

He disclosed that China had so far attracted over $139tn FDI, noting that in 2016 alone, his country attracted about $139bn.

“As Chinese ambassador to Nigeria, I wish a small part of the $139bn could come to Nigeria,” he said, stating that China’s policy was focused on the economic development of Africa.

He also said that China was devoted to implementing the outcomes of the China-Africa Cooperation Summit during President Muhammadu Buhari’s visit to the Asian country in April 2016.

“What is important is for us to focus on the big plans; we see great potential in investments in Nigeria, but Nigeria-China trade is declining fast.

“Nigeria used to be China’s number two trade partner in Africa, but it’s now number four.”

The Chairman of the House of Representatives Committee on Nigeria-China Relations, Buba Yakubu, said the country would henceforth work on implementing all agreements reached with China.