China seeks more crude oil exports from Nigeria in spite of the recent changes in oil prices.
In an Interview in Abuja, the Economic and Commercial Counselor of the Chinese Embassy in Nigeria Mr Zao LingXiang said that China seeks more Crude oil exports from Nigeria.
“But the total amount of export to China was only about one million barrels in 2015 that was just 1.3 per cent of Nigeria annual oil export. In my opinion, it really doesn’t matter whether Iran comes back or not; Chinese companies want to import more crude oil from Nigeria,” Mr Zao said.
He also said that current trade volume between China and Nigeria stood at 14.94 billion U.S. dollars in 2014. Nigeria is the third largest trade partner of China in Africa.
The total investment volume between both countries exceeded 100 billion U.S dollars in 2015 although there was an import decline from Africa, he explained.