The trade volume between Nigeria and China stood at over N1 trillion in 2012 with a deficit of N270 billion against Nigeria.
Mr Samuel Ortom, the Minister of State for Industry, Trade and Investment, who disclosed this to newsmen yesterday in Abuja, said the Federal Government was working hard to close the gap.
The minister spoke when a trade delegation from China, led by Mr Wonming Wang, the President of Africa Investment Network, visited him in his office.
The trade volume between Nigeria and China stood at over N1 trillion in 2012 with a deficit of N270 billion against Nigeria.
Mr Samuel Ortom, the Minister of State for Industry, Trade and Investment, who disclosed this to newsmen yesterday in Abuja, said the Federal Government was working hard to close the gap.
The minister spoke when a trade delegation from China, led by Mr Wonming Wang, the President of Africa Investment Network, visited him in his office.
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.
“One of the challenges they have had are the over-exaggerated negative media reports that portray Nigeria as a horrible place to come.
“But they have come and seen things for themselves. Now, they have positive things to talk about and when they get back to China, I am sure they will tell their other colleagues.’’
Ortom said that Nigeria remained the first investment destination in Africa, citing the latest World Investment Report by the United Nations Conference on Trade and Development (UNCTAD).
According to the report, released on Wednesday, Nigeria recorded a Foreign Direct Investment (FDI) inflow of 7.03 dollars in 2012 to retain its number one position for the second time in two years.
South Africa, Ghana and Egypt followed with FDI inflows of 4.572, 3.295 and 2.798 dollars respectively.
“The opportunities are there, and I keep saying that today we have a president who is willing to overcome the country’s unemployment challenges.
“The only way we can do it is when we are able to establish businesses and industries that will give massive employment to our people,’’ Ortom said.
Wonming said that the delegation was in Nigeria to seek the minister’s assistance on behalf of Chinese companies and businesses, who have indicated interest to invest in the country.
He identified the areas of interest as auto mobile, marble, medical equipment, solar energy, building materials and housing construction, among others.
“I am here to ask for the assistance of the minister to bring Chinese investments to Nigeria because you are the top investment destination in Africa for investment.
“In China there are thousands of factories and companies that want to come to Nigeria.
“The areas of investment are many, and we consider the assistance of this esteemed ministry as very crucial.’’
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