Nigeria-China Strategic Partnership set to Boost Foreign Direct Investment and Economic Growth

The Nigeria-China Strategic Partnership is committed to driving significant economic growth and development in Nigeria, harnessing the expertise and experience of China

Speaking at the Unveiling of the upcoming Nigeria-China Sustainable Bilateral Business Trade and Investment Summit, Director-General of the NCSP Joseph Tegbe emphasized the importance of global partnerships in attracting Foreign Direct Investment (FDI) and promoting economic development. He noted the need to address trade imbalance between Nigeria and China, using a multifaceted approach including strategic FDI, local content development, infrastructure development, trade promotion, skills development and technology transfer.

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According to Tegbe “Nigeria’s strategic partnership with China offers a unique opportunity for our nation to leverage Chinese technology, expertise and investment to drive growth and development. We are committed to working closely with Chinese businesses and investors to create a conducive environment for investment and trade.”

Tegbe highlighted the significant successes of the NCSP since inception, with over 216 chinese companies expressing interest in investing in Nigeria and investment pledges totalling almost $40billion. Infrastructure, manufacturing Agriculture, Mining, technology, education and healthcare are the key sectors targeted for investment.

The Nigeria-China Sustainable Business Bilateral Trade and Investment Summit is a brainchild of the House of Representatives committee on Nigeria-China relations, headed by Hon Jafaru Yakubu.

Other dignitaries at the unveiling included Members of the House of Representatives, the Hon Minister for Foreign Affairs (represented by Ambassador Bolaji Akinremi), Executive Secretary of the Nigerian Investment Promotion Commission (NIPC) Aisha Rimi, Director-General of the Presidential Enabling Business Environment Council (PEBEC), Zahra Audu, representative of the Chinese Ambassador, Director-General of China General Chamber of Commerce (CGCC) Tristan Cui, Chinese Businessmen and Investors, Nigerians with investment interests in China, as well as other members of the technical working group.