Foreign Direct Investment ( FDI) Chinese Businessmen to Invest U.S. $300 Billion in Nigeria

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Over twenty investors from the Republic of China who are on a business tour in the country have indicated their readiness to invest about $300 billion to boost Nigeria’s economy.

The investors, who held a business forum on Wednesday with the Ogun State Governor, Senator Ibukunle Amosun in his office in Abeokuta, were led by the Chief Executive Officer (CEO) Shanghai Engineering Works Nig. Ltd and Blue Diamond Investments, Mr. Festus Mbisiogu.

They are among China’s Fortune 500 selected companies that are involved in Agriculture, Power, Aviation, Housing and Railway development.

Each of the delegates is expected to pump in a whopping $15billion into selected areas of interest, a situation which would fetch Nigeria over $300 billion.

The positive multiplier effect of the funds the Chinese businessmen are bringing into Nigeria, would reduce unemployment in the country and also ensure that the issue of epileptic power supply which is undermining industrialisation, becomes a thing of the past.

According to Mbisiogu, the delegates already have strong presence in other African countries having invested much money in Ivory Coast and Ghana, decided to come to Nigeria to share China’s experience with the people.

Apart from ensuring steady power supply in the country, the dream of Nigerians becoming one of the strongest economies in the world by 2020 would be a reality. This is in view of the fact that investment is a stepping stone towards federal government’s aim of reducing unemployment. 150,000 thousand Nigerians gainful employment.

Addressing the team of investors who went in the company of representatives of China-Africa Investment Club, Governor Amosun stated that, “This is almost three years I have been in office and one country that has been supportive and close to Ogun State is China. Indeed, the Chinese Ambassador and Consul General always come to us. There are areas we are interested in which are Agriculture, Railway, Airport etc. and we will like to partner with China to develop these areas.”

Ogun State Governor Amosun said ” Ogun State has the largest base of industry in Nigeria because of its proximity with our sister state Lagos and that has given us the privilege of becoming the gateway to West Africa sub-region market.” He added that “Ogun State is home for industry, while Lagos is home for commerce and we allow private investors to enable us grow.” He expressed optimism that in the next three to six months, that the investors would have established there companies here in Nigeria.

 

 

From our correspondent

 

Author Bio

belvyna

Mrs. Yemisi Akibu ( nee Awokoya) is the Chief Executive Officer of Belvyna Global, an agricultural consultancy service firm based in Lagos, Nigeria She is a former Team Member of the Agricultural Department of Union Bank of Nigeria Plc, one of Nigeria's first generation banks. She holds a B.Sc degree in Agricultural Economics from the University of Ibadan, Nigeria and a Masters degree in National Development and Project Planning from the University of Bradford, West Yorkshire, United Kingdom. She is passionate about the role agriculture plays in the social, economic, political development of a nation. She holds the view that one of the pillars of stability of a nation food security and this can only be achieved through the holistic development of the agricultural sector. She can be contacted via: yemisiakibu@gmail.com or info@belvynaglobal.com Remember, The Farmer Is King Enjoy my blog

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