China Invests $45bn In Nigeria

Consul-General of the People’s Republic of China, Chao Xiaoliang on Friday, stated that his country has invested $22 billion in some projects in Nigeria, with another $23 billion on-going investment.

Xiaoliang, who made this known while speaking to newsmen at the Chinese consulate in Lagos, explained that the investments were made in furtherance of China’s economic policy tagged the ‘Belt and Road Initiative’.

The consul-general stated that while a slowdown in the global economy generally affected the volume of trade between Nigeria and China in 2016, “Chinese investment in Nigeria grew by 27 percent.”

Xiaoliang added;

“Accompanying the investment, Chinese technology, management and experienced talents also flood into Nigeria, which greatly boosts the diversification and development of Nigerian economy.”

The diplomat expressed his confidence in Nigeria’s ability to become a major manufacturing hub and that China was willing to help the country achieve the goal.

“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,”

According to the Sun, the consul-general assured of China’s readiness to partner with Nigeria in her drive to diversify the country’s economy from oil.

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