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Nigeria-China in trade talks

Nigeria and China’s has held talks  on oil exports and energy

“Specific issues of interest to China include …increased investment in transmissional power generation, export of oil and non-oil products to China by Nigeria,” said a statement from Nigeria’s foreign ministry.

China’s state oil giant CNOOC last year made an offer to buy six billion barrels of oil from Nigeria, but the bid was turned down.

Nigeria was for years Africa’s largest oil exporter but it has been caught up recently by Angola.

The six billion barrels of oil CNOOC is seeking to buy, is equivalent to one in every six barrels of the proven reserves in Nigeria.

The bids pitch China into competition with western oil giants including Shell, Chevron, Total and ExxonMobil which partially or wholly control and operate in Nigeria.

China has aggressively stepped up trade and economic ties with the resource-rich Africa in recent years, prompting critics to accuse it of taking a “neo-colonialist” attitude.

In November, at a meeting of China-Africa leaders in Egypt, Beijing pledged 10 billion dollars in concessional loans to African countries.

The Friday talks were also to discuss boosting communication technology and the development of Nigeria’s dilapidated railway infrastructure.

A 257-million-dollar Chinese-built satellite launched into space less than two years ago for Nigeria’s communications’ revolution, failed last year and could not be recovered.

On the political front, the west African giant, struggling to regain the international clout built during former president Obasanjo’s era, will also “seek the support and co-operation of the Chinese government for Nigeria’s bid for the UN Security Council seat.”

Immigration, security, extradition issues are also lined up for discussion, said the statement, adding that Nigerians had built up a reputation for violence, drug-trafficking and over-staying their visas which is an “embarrassment to the image” of the country.

Yang who has been to Kenya, is to proceed Saturday to Sierra Leone, then Algeria and Morocco.