The Director-General of the Nigeria-China Strategic Partnership (NCSP), Joseph Tegbe, has emphasised a significant surge in Chinese investments into Nigeria.
He stated this at the House of Representatives Committee on Nigeria-China Parliamentary Relations summit, held in Lagos, which focused on enhancing the “Ease of Doing Business in Nigeria.”
According to him, the NCSP has facilitated over $10 billion in Chinese investment commitments across various sectors, including agriculture, automotive manufacturing, and oil and gas.
“In just under ten months, the momentum has been both remarkable and instructive,” Tegbe noted, highlighting the scale of the investments.
He added, “We are now experiencing a wave of strategic investments and highly competitive financing options from the Government and business community of the People’s Republic of China.”
Tegbe detailed some of the key projects, saying, “Some of the projects include an integrated agricultural investment portfolio exceeding $1 billion, a novel cassava value chain initiative valued at $800 million, and a proposed $10 billion in oil and gas sector investment commitments.”
Stressing the importance of legislative support, he remarked, “While policy formulation and execution reside with the Executive, the Legislature’s support in creating an enabling legal environment is irreplaceable.”
The summit also explored ten partnership actions proposed by Chinese President Xi Jinping aimed at improving cooperation in various sectors, such as health and agriculture.
Tegbe, however, stated, “Our message today is simple, yet resolute: support the Nigeria-China cooperation for the sake of our dear motherland, Nigeria.”