Oil, others propel China’s investment in Nigeria to $8.4bn

25 May 2012, Sweetcrude, ABUJA – China’s investment in Nigeria currently stands at about $8.4 billion, Yonghua Ding, the Head of the Chinese Embassy in Nigeria’s Political and Press Section has said.

He disclosed this Thursday, saying the investments were in the areas of oil and gas, power, telecommunications, agriculture, among others.

Ding, however, said the figure was for 2011 and that trade between both countries also reached $10.7 billion that year, a 40 per cent increase over the figure for 2010.

He said China is interested in Nigeria’s solid mineral products and that his country hopes to explore these to have more exports from Nigeria.

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