Business / Economy

Nigeria keen on cooperation with Chinese investors

(Xinhua) Updated: 2016-09-24 14:16

LAGOS - Nigeria needs to partner with Chinese investors to bridge the country's huge financing gap in the areas of consumer industries, agriculture, infrastructure and telecoms, a top official said Friday.

China had a lot to offer Nigeria in terms of trade, investment and financing of energy projects, said Aisha Abubakar, the Minister of State for Industry, Trade and Investment.

The minister spoke in Abuja, the country's capital city at the Nigerian Investment and Financing Summit, organized by the Government of Jiangxi Province, China; Export-Import Bank of China, Jiangxi Branch, in collaboration with the Nigeria-China Business Council.

She said there were many states and industries that were moribund and which were looking for funds to tackle the challenges of growth and development.

The Nigerian official told her audience that the government had developed policy on the longstanding power shortage in Nigeria and would, henceforth, provide the necessary support for businesses willing to invest in the country.

She said over the past two decades, China had become an important partner in Nigeria's growth and development.

The minister said the demand of the middle class and the initiative of the Nigerian government had helped investments and opportunities in industry that extended beyond the jurisdictional destination of oil and gas.

She said government had developed stronger public private partnership for roads, Agriculture and power.

The minister added that the government had also entered into a number of bilateral investments promotion and protection agreements to further encourage investment in the country.

Earlier, Li Yin, vice president of the Chinese People's Association for Friendship with Foreign Countries, said the group was committed to promoting and deepening relationship between Nigeria and China.

Li said the group and the Chinese government were concerned about ensuring development across the local governments in Nigeria, especially as they were closer to the people and capable of making meaningful impact on the lives of the people.

The Deputy Governor of Katsina State, Mannir Yakubu, representatives of Abia and Delta States also attended the summit in order to woo investors to invest in their respective states.

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