Chinese Investment in Nigeria Grows by 27%, Pumps $45b into Economy

April 16, 2017

By Modupe Gbadeyanka

Chinese Consul-General, Mr Chao Xiaoliang has revealed that his country has invested $22 billion in some projects in Nigeria, with another $23 billion on-going investment.

Addressing journalists on Friday at the Chinese Lagos Consulate, Mr Xiaoliang noted that Chinese investment in Nigeria grew by 27 percent in 2016.

According to him, apart from the investment, his country also made available to Nigeria Chinese technology, management and experienced talents, which he said has hugely enhanced the diversification and development of Nigerian economy.

“Although, under the world sluggish economy, we witnessed the downward of trade volume between China and Nigeria, but, Chinese investment in Nigeria grew by 27 percent last year,” Mr Xiaoliang said.

He stated further that, “The benefits from Chinese investment can be seen everywhere. I have been working as Chinese Consul-General in Lagos since July last year and already visited several states in my consular jurisdiction.

“Save for the hospitality and kindness of Nigerian people, what impressed me most is the strong willingness and enthusiasm of local people to welcome Chinese investment, and they told me that the Chinese investment had become the pillar of local economy and made their hometown a better place, which I am so happy and proud to hear.

“In my opinion, Nigeria has all the required qualities to become another world manufacturer, and China has the willingness and ability to help Nigeria realise its potential.

“China and Nigeria need to find a platform and mechanism to effectively conduct our cooperation, and this is the very role the Belt and Road Initiative plays.”

Modupe Gbadeyanka

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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