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Nigeria Gets $45bn Investment From China

In furtherance of its economic policy, the Belt and Road Initiative, The People’s Republic of China has invested $22 billion in some projects in Nigeria, with another $23 billion on-going investment.
Consul-General, Chao Xiaoliang disclosed this to newsmen, at the Chinese Lagos Consulate, yesterday.

“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,” Xiaoliang said.
Regardless, he added that “China has already invested or financed a total number of $22 billion projects here in Nigeria, another $23 billion projects are on-going.
“Accompanying the investment, Chinese technology, management and experienced talents also flood into Nigeria, which greatly boost the diversification and development of Nigerian economy.
“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.”
Chinese President, Xi Jinping, announced at the annual meeting of the World Economic Forum, in Davos, Switzerland, that from May  14 to 15, 2017, China will host, in Beijing, the Belt and Road Forum for international cooperation.
The initiative aims to discuss ways to boost cooperation, build cooperation platforms and share cooperation outcomes.
The Belt and Road Initiative,  said Xiaoliang, refers to the New Silk Road Economic Belt, which will link China with Europe through Central and Western Asia, and the 21st Century Maritime Silk Road, which will connect China with South East Asian countries, Africa and Europe.
In addition, the Consul-General noted that China is ready to partner with Nigeria in her drive to diversify the country from oil.

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