China’s Ambassador Gu Kiaojie has announced that his country’s crude oil importation from Nigeria has been steady in the last five years.

“For the past four to five years China has never reduced the volume of crude oil importation from Nigeria, the volume remains stable,” he noted.

The Chinese envoy, who described the present trend in the crude oil market as a global phenomenon, also added that the global oil market was weak.

He blamed the on-going trend on weak global economy and the market forces of demand and supply, although he admitted that China is not a major crude oil importer in the world.“China steadily purchases between two to three per cent of total global Nigerian crude oil export.” he said.

He advised Nigerians to intensify their efforts in looking inward and see what they can produce locally rather than relying on importation.

However, apart from crude oil, Gu also said that China imports commodities like iron ore, soya beans from Nigeria on regular basis. Sweetcrude reports.