BusinessDay

Nigeria records N270bn trade deficit with China

The trade volume between Nigeria and China stood at over N1 trillion in 2012 with a deficit of N270 billion against Nigeria.

Samuel Ortom, the minister of state for industry, trade and investment, who disclosed this to newsmen on Thursday in Abuja, said the Federal Government was working hard to close the gap.

Ortom spoke when a trade delegation from China led by Wonming Wang, the president of Africa Investment Network, visited him in his office.

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Ortom said the delegation’s visit was in response to his visit to China to shop for more investors as part of efforts to correct the deficit.

“We are working round the clock to close the gap and this is why this Chinese delegation is here today.

“This is directly the result of my trade fair visit to China, specifically to Guangshou, where I met Mr. Wang and these investors you are seeing here today.

“I told them about the potential we have in our country. I am happy that they are here today to see things for themselves, and they have confirmed it.