DG NIGERIA-CHINA STRATEGIC PARTNERSHIP, JOSEPH OLASUNKANMI TEGBE HOSTED CHINESE TOP BUSINESS LEADERS AND INVESTORS

DG NIGERIA-CHINA STRATEGIC PARTNERSHIP, JOSEPH OLASUNKANMI TEGBE HOSTED CHINESE TOP BUSINESS LEADERS AND INVESTORS

In line with the comprehensive strategic partnership between the Federal Republic of Nigeria and the People’s Republic of China, the Nigeria-China Strategic Partnership (NCSP) hosted a 35-man delegation of Chinese business leaders interested in investing and establishing partnerships in Nigeria.

The delegation, whose visit was facilitated by Pan-African Expansion Industrial Nigeria Ltd, comprised companies with interests in Science and Technology, Mining, Construction, Real estate, Healthcare, Tourism, and E-commerce. They were received by the Director-General of the Nigeria-China Strategic Partnership (NCSP), Mr. Joseph Olasunkanmi Tegbe. Mr. Jason Zhu, the delegation lead, highlighted areas of desired investment in Nigeria, leveraging China’s industrial and technological advancements.

While welcoming the delegation, the Director-General of the Nigeria-China Strategic Partnership (NCSP) noted that Nigeria offers a dynamic and increasingly attractive business environment, marked by significant growth and abundant opportunities for investment. As the largest economy in Africa, Nigeria significantly contribute to the continent’s GDP, boasting a vibrant and resilient market and a business climate that benefits from a large and youthful population, a strategic geographic location, and a government dedicated to implementing reforms that enhance economic stability and investor confidence. He highlighted policies and programmes that investors can key into, including investment in Free Trade Zone to boost exports from Nigeria.

Responding to questions, the DG emphasized that Nigeria is positioned to serve as the gateway to business across the African continent. However, he urged the investors to prioritize local production, stating that Nigeria seeks to move beyond merely exporting raw commodities. Instead, the focus is on upgrading exports to value-added products. He encouraged the delegation to bring advanced technology and manufacturing capabilities to support this goal, which aligns with the nation’s industrialization aspirations.

Nigeria’s thriving technology sector stands as a beacon of opportunity. The country has produced several tech unicorns, such as Andela and Flutterwave, and continues to attract global investments. With China leading the way in technological innovation, deeper collaboration in this sphere offers immense potential. Strengthened cooperation between Nigeria and China would yield mutual benefits, including increased trade and investment, job creation, enhanced infrastructure and knowledge transfer.

The Nigerian Investment Promotion Commission (NIPC) represented by Mrs Victoria Aigbedion outlined the entry protocols for the investors to register their businesses, and the incentives they can take advantage of. She noted that the NIPC is committed to making the process timely and hitch-free.

Nigeria-China Strategic Partnership was established to drive Nigeria’s socio-economic transformation through targeted Chinese investments, aligning with Nigeria’s Renewed Hope Agenda and China’s Belt and Road Initiative. The event marked another significant step in deepening the Nigeria-China business relationships and is expected to foster a mutually beneficial cooperation between the two nations.

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