Nigeria to Get More Investments from China, Says CGCC

Michael Olugbode in Abuja

Nigeria is expected to get more investments from China in recent times, the China General Chambers of Commerce has said.

The chambers made the declaration

Thursday during the opening of the 3rd Belt and Road China-Nigeria Economic and Trade Exhibition in Abuja, noting that China is interested in strengthening trade relations with Nigeria.

Speaking at the occasion, the Deputy General Manager of CCECC Nigeria Limited and the representative of the Chairman of the China General Chambers of Commerce in Nigeria, Mr Liu Jiang, said the forum marks a starting point to continue to promote economic and trade cooperation.

He said: “We are committed to enhancing and strengthening our cooperation by working closely with local partners to play harmony with China-Nigeria relations.

“It is important to note that a number of landmark projects have been completed from oil and gas, infrastructure, manufacturing, communications, agriculture, mining, internet and other fields in addition.

“This economic and trade exchange will create more opportunities for Chinese and Nigerian enterprises and strengthen win-win cooperation.”

Liu also noted that the Belt and Road initiative proposed by Chinese President Xi Jinping aims to promote policy communication, infrastructure connectivity, unimpeded trade, financial integration and people-to-people exchange, among countries.

According to him, “Half a month ago, the third Belt and Road Forum for International Cooperation was successfully held in Beijing and the Chinese President Xi Jinping met with Nigeria Vice-President Kashim Shettima.

“The two sides valued the fruitful achievements made by China and Nigeria since the establishment of diplomatic relations for more than half a year and expressed full confidence in the future development of relations between the two countries.” 

In his remarks, Hon. Jaafaru Yakubu, the Chairman, House of Representatives Committee on Nigeria-China Relations, who represented the Speaker, Tajudeen Abbas, expressed his appreciation to the Chinese government for the Belt and Road Initiative which Nigeria has benefited a lot from.

He said: “This initiative has brought about tremendous opportunities for economic developments, infrastructural enhancement, and cultural exchange between our two nations. 

“The Belt and Road initiative, launched by China in 2013, aims to connect Asia with Europe, Africa and beyond through a series of infrastructural projects, such as roads, railways, ports and energy facilities. 

“Nigeria being the largest economy in Africa has become a key participant in this initiative seeking to improve its infrastructure, boost trade and enhance its overall development framework.” 

He also stated that the cooperation between Nigeria and China has enhanced transportation infrastructure. 

“Through the Belt and Road Initiative, China has invested in the construction of roads and railways providing Nigeria with better connectivity within the country and across borders. 

“This has facilitated the movement of goods, services and people bringing about increased trade and economic integration.

“The Federal House of Representatives through the able leadership of Hon. Tajudeen Abbas is committed to strengthening the bilateral and diplomatic ties between Nigeria and China by the instrumentality of appropriate law-making,” Yakubu said.