The volume of trade between Nigeria and Spain hit $8.2 billion in 2011 with Nigeria's oil exports to the European country worth $8 billion while the volume of imports from Spain were worth $200 million.
There are already expectations that the figures would rise significantly by the end of 2012.
Spain's Secretary of State, Mr. Gonzalo de Benito Secades, said these during a recent visit to Nigeria's Ministry of Foreign affairs as part of a tour of West African countries.
He disclosed that Nigeria- Spain relationship has received a boost in recent years.
"Spain is the forth destination of Nigeria export in the world and 14th among countries exporting to Nigeria with Spanish trade volume place at $200 million in the areas of energy, construction, agriculture and others," Secades said.
Spainis also collaborating with Nigeria and ECOWAS on the security situation in Mali and Guinea Bissau, Secades disclosed, adding that the country is also willing to assist Nigeria on the issue of Boko Haram.
"We are working hard at the EU level to support ECOWAS effort in tackling security challenges in the region and we are ready to contribute to the Military training in Mali," he said. Responding, the Minister of State II for Foreign Affairs, Dr Nurudeen Muhammed, welcomed the offer of assistance from Spain on the issue of terrorism, Mali and Guinea Bissau.