Nigeria supplies 20 percent of Spain’s crude oil and gas needs, according to the Ambassador of Spain to Nigeria, Mr Angel Losada. “Of course, in Spain 20 per cent of gas consumption comes from Nigeria,’’ Losada  told newsmen in Abuja. “We buy from you, from three to four billion Euro every year, mainly gas and oil; the problem is that we only sell 200 million Euro and then there is no balance in trade.’’ The envoy said Spain was Nigeria’s second most important trade partner, noting that the maiden visit of Prime Minister Jose Zapatero to Nigeria in June 2009 had boosted bilateral relations.

   He said Spain was implementing part of an agreement contained in a Memorandum of Understanding, which was signed by the late President Umaru Yar’Adua and the Spanish prime minister.

  The memorandum spans culture, politics and the economy, including renewable energy, oil and gas.         Losada said that Spain, currently President of the European Union, was collaborating with Nigeria, which he described as a friend, on the platform of the Economic Community of West African States.

     He said in spite of the economic downturn in Spain, some of its companies were still willing to invest in Nigeria, noting that the problem would not stop his country from assisting Nigeria or any other country in Africa.

   “You know Spain is having very difficult economic problems but we have very good companies, mainly in the building sector,’’ he said. According to him, some Spanish companies are already participating in the development of Nigeria’s infrastructure.