Buhari says Nigeria should Export More to China | Photos

President Muhammadu Buhari has called on Nigerian and Chinese business communities to work hard to reduce the trade imbalance between the two countries currently in China’s favour.

A statement issued in Abuja by Femi Adesina, the Special Adviser on Media and Publicity to the President, said Buhari made the call while speaking at a Nigeria-China Business/Investment Forum in Beijing, China, on Tuesday.

President Buhari said that trade and economic relations between the two countries must be mutually beneficial and conducted with respect and trust.

“Although the Nigerian and Chinese business communities have recorded tremendous successes in bilateral trade, there is a large trade imbalance in favour of China as Chinese exports represent some 80 per cent of the total bilateral trade volumes. 

This gap needs to be reduced. Therefore, I would like to challenge the business communities in both countries to work together to reduce the trade imbalance. 

You must also imbibe the spirit of having a mutually beneficial relationship in your business transactions. You must not see Nigeria as a consumer market alone, but as an investment destination where goods can be manufactured and consumed locally,” he said.

The president said that his administration was committed to supporting investors that were ready to establish manufacturing and processing facilities in Nigeria.