Nigeria, China Trade Volume Now N11trn

The Foreign Affairs Minister, Mr Godfrey Onyema, on Friday, disclosed that the trade volume between Nigeria and the Peoples’ Republic of China now stands at $25 billion, about N10.91 trillion.

Speaking at the official handover of a 46-metre patrol boat and several other military hardware to Nigeria by the Peoples’ Republic of China, held at the parade ground of the Nigerian Navy Ship (NNS) Beecroft, Lagos, Onyema, stated that the relationship between the two countries dated back to 1971.

The minister also stated that with the robust relationship between the countries, the trade volume between them would expand beyond.

The minister was represented at the event by the Nigerian Ambassador to China, Mr. Babatunde Mustapha. He noted that the donation of the 46-metre patrol boat and other military equipment attests to the cordial relationship between both nations.

Also speaking at the event, the Chinese Ambassador to Nigeria, Cui Jian Chun, revealed that the two countries are planning to commence the production of military hardware in Nigeria.

He said the in-county production of military hardware would greatly enhance the performance of the Nigerian Armed Forces in its quest to end terrorism in Nigeria.

He said: “The second is about economic cooperation. This is very, very important for the material conditions of Nigerian people and for Nigerian society.

“China with about 1.4 billion people under the leadership of a Communist Party, we have accomplished the first centenary of eradication of absolute poverty.

“We would like to share our experience with Nigeria and how you can achieve this great goal by the year 2030,” he added.