Chinese investors commit $500m to expansion of Nigerian businesses

16 December 2015, Lagos – ‎The Minister of State for Industry, Trade and Investment, Hajiya Aisha Abubakar‎ on Tuesday disclosed that Chinese investors have committed to invest an additional $500 million into various sectors of the economy to help expand their businesses and boost employment generation across the country.

*Doing business in Nigeria

*Doing business in Nigeria

Speaking in Abuja affter receieving a delegation of Chinese businessmen who were on a feasibility study of the investment environment,  she said the “doors are open to people who are willing to come in and invest in our country, noting that ‎”the economy needs a lot of investors and different sectors want to key in.”

She said the new capital injection was expected to come from with the Skyrun Corporation and Hi-Hope International, both of which are umbrella firms for Chinese investments.

The minister said: “They’ve already invested over $500 million; they’ve come with more expansion plans to go into various From what we’ve just discussed, they are willing to bring in additional $500 million over the next few years and they are also going to expand in sectors as well as geographical spread.‎.

“From what we’ve just discussed, they are willing to bring in additional $500 million over the next few years and they are also going to expand in sectors as well as geographical spread.‎”

She added that government was considering giving some forms of incentives to the investors as well as allowing for some flexibility in accessing the Nigerian market.
She said: “So we are hoping that these would generate more employment for us and we’ll see more of our products in the market especially for export purposes.
“By the time they’ve brought in their documented proposals, and we see the full details of what it is that we are doing, I’m sure we are willing to allow them have some concessions and maybe flexibility in how they come in and so on.‎”

Meanwhile, Chairman, Skyrun International, Xie Shao, who led the Chinese delegation said the Chinese investors were trying to bring in investments into country but needed to know whether they would enjoy support from the government or ministers.

“That’s why we are in the country,” he said

He said:”We are going to investment in agriculture, power, refining and industrial products because these are good for the Nigerian economy. And the minister has said she would give support.

“Skyrun has set up our factory here ten years ago for the future. Now we intend to effect expansion and now we are trying to bring in more partners together with us to set up factories and create jobs and boost the Nigerian economy.”

  • This Day
About the Author