Chinese investments in Nigeria’s real sector now $3bn –envoy

AS CHINA MARKS 70 YEARS of its establishment as a nation, and 48 years of diplomatic relations with Nigeria, the Chinese Chamber of Commerce in Nigeria has revealed that its investments in Nigeria’s manufacturing sector has risen to $3 billion.

Li Yuau, vice president of

Chinese Chamber of Commerce in Nigeria, made the disclosure at the International Conference Centre, Abuja.

“Preliminary statistics show that Chinese investment in the manufacturing sector in Nigeria has grown rapidly, $3 billion in cumulative

terms, creating in the process tens of thousands of jobs for local communities. This is a testament to mutually beneficial relations between Nigeria and China”, he said.

Yuau also disclosed that, since establishing diplomatic

ties with Nigeria in 1971, China has sponsored more than 4,500 officials from Nigeria to China for seminars and workshops.

On the 48 Nigerians given various forms of awards, Yuau explained: “The October 1 award is dedicated to

48 local employees for their dedication to work and for outstanding cooperation to China and Nigeria cooperation.”

He said the Chinese Chamber of Commerce exists to facilitate harmonious trade relations between Chinese

companies and Nigeria. This is to promote legitimate interest of China businesses and people. Over the last 70 years, under good leadership, giant strides have been made. “Our aim is to promote exchange between China and Nigeria to provide services to Chinese companies”, Yuau emphasised.