Over 200 Chinese firms eye business in mining, agric sectors

06 July 2015, Abuja – Over 200 Chinese companies have expressed interest in the country’s mining, agriculture, confectionary and pharmaceutical sectors.

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Speaking during the signing of a Memorandum of Understanding (MoU) between  the Chinese delegation and a consortium of Nigerian businessmen, Executive Secretary of the Nigerian Investment Promotion Council (NIPC), Mrs. Uju Aisha HassanBaba in Abuja, said the Council is willing to facilitate the Chinese companies’ business activities in Nigeria.

“We will also ensure that your investment is safe in Nigeria. We are willing to give you one-stop-shop services and other incentives that will ease your investment in the country.” Hassan-Baba said, “We expect them to come with the profile of their companies and what they have to offer to us. We will be ready to open up our markets to them, that is why the NIPC is involved in this so that we can see what kind of investors they are.

“We are moving away from the oil sector and hoping that these investors can fit into these areas mentioned because some of these areas are the priority of the government especially the agricultural sector. The agriculture sector as you know, is the one that provides the most jobs.”

The investments, according to the leader of the Nigerian consortium coordinating the Chinese firms, Gen Chiemeka Egbemena are mainly companies involved in petroleum, iron and steel, agricultural and manufacturing sectors, as well as free trade zone.

He stated that the Chinese Government is committed to encouraging and supporting Chinese companies’ investment in Nigeria, just as it continues supporting the country’s efforts at attracting foreign investment. “The major significance is that we are falling in line with the new policy of government to look elsewhere for the growth of our economy and that is the desire of those companies that are coming to invest in the area where the world seem to be moving.”

“About 200 Chinese companies are coming to do business in Nigeria. We are most interested in mining and agricultural and allied industry. These areas are our priority. Mutual benefits have been enjoyed by the two countries in agriculture, economics, infrastructure, communication, cultural exchange and education over the years of cooperation, Mr Egbemena said.

On his part, the President of Abuja Chamber of Commerce and Industry Limited (ABUCCI), Mr Joe Wenegieme said that the Chinese investors would come into the country next month to explore potential investment opportunities in the country with a five-day trade fair. “We have sent letters out to different states government, local people and private organisations to come and meet with the investors so they can have the opportunity of discussing with them.”



– Vanguard

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