Nigeria Targets Chinese Investments In Manufacturing, Agriculture, Mining

Nigeria is seeking to attract increased Chinese investments in manufacturing, agriculture, mining and other critical sectors of its economy as the Federal Government intensifies efforts to deepen bilateral trade and industrial cooperation between both countries.

The investment drive took centre stage at the third edition of the Business and Investment Forum organised by the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) in Guangzhou, China, where a large number of Chinese investors and business leaders explored opportunities for partnerships with Nigerian businesses.

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The investors, who cut across agribusiness, mining and mineral processing, pharmaceuticals, automobile, renewable energy and manufacturing sectors, were presented with investment-ready projects and business proposals by Nigerian business executives and public sector leaders.

The high-level forum, organised in collaboration with the China Chamber of International Commerce (CCOIC), the Consulate General of Nigeria in Guangzhou, the China Council for the Promotion of International Trade (CCPIT) and the Window of Canton, was held on the sidelines of the 140th Canton Fair.

Speaking at the event, the National President of NACCIMA, Engr. Jani Ibrahim, urged Chinese investors to expand their business interests in Nigeria through increased investments, joint ventures and industrial partnerships.

He said Nigeria and China had established a strong foundation for economic cooperation over their 55 years of diplomatic relations, stressing the need to translate the relationship into tangible investments, factories, employment opportunities and increased trade.

“Across China, there is a famous saying that if you want to get rich, first build the road. Nigeria and China have built the road. We have walked together for 55 years. Let us measure the next chapter not in memoranda signed, but in many more factories opened, jobs created, and containers sailing from Lagos to Guangzhou,” Ibrahim said.

He described Nigeria’s economy as steadier and more stable, noting that the country offers investors access to a market of more than 200 million people, with additional opportunities across the African Continental Free Trade Area (AfCFTA), which connects businesses to a market of about 1.3 billion people.

According to him, Nigeria’s strategic position makes it a natural gateway to the African market, offering significant investment opportunities in energy, solid minerals, agriculture, digital technology and healthcare.

Ibrahim assured prospective investors that NACCIMA was ready to provide guidance, business facilitation and other necessary support to encourage Chinese businesses to invest in Nigeria.

Earlier, the Consul General of Nigeria in Guangzhou, Amb. Mairo Musa Abbas, said the enormous potential of the economic relationship between Nigeria and China remained largely untapped.

She called for a shift from conventional trade, largely characterised by the exchange of finished products, towards a more productive partnership driven by investments, local manufacturing, technology transfer, industrial development and job creation.

“Our objective is to move beyond conventional trade, which is largely characterised by the exchange of finished products, towards a more productive partnership driven by investment, local manufacturing, technology transfer, industrial development and job creation,” she said.

Abbas said the transition was particularly important as Nigeria pursued economic reforms under President Bola Ahmed Tinubu to diversify the economy, strengthen domestic production, expand exports and create an enabling environment for private-sector investment.

She reaffirmed the commitment of the Nigerian Consulate in Guangzhou to promoting economic diplomacy, facilitating trade and investment, and strengthening institutional relationships between Nigerian and Chinese businesses.

“We will continue to work closely with NACCIMA, CCPIT, CCOIC, Window of Canton and other relevant institutions to facilitate business introductions, identify investment opportunities and provide appropriate guidance to Chinese investors interested in Nigeria. We equally encourage Nigerian businesses to utilise the Consulate as a platform for exploring opportunities within our jurisdiction in China,” she said.

Also speaking, the Vice President of CCPIT Guangzhou, Huang Xiaofeng, welcomed the Nigerian delegation to China and reaffirmed the organisation’s commitment to partnering with NACCIMA and the Nigerian Consulate to deepen economic cooperation between both countries.

He recalled that CCPIT Guangzhou had signed a Memorandum of Understanding (MoU) with NACCIMA to sustain the B2B forum and ensure greater impact from the initiative.

The event attracted several Nigerian dignitaries, including the Vice Chancellor of the University of Ilorin, Prof. Wahab Olasupo Egbewole, SAN; NACCIMA First Deputy President, Dr. Emi Membere-Otaji, OON; National Vice President, Barr. Jasper Nduagwuike, mni; and President of Kaduna Chamber of Commerce, Alhaji Farouk Suleiman.

Others included NACCIMA China Relations Executive, Alhaji Zakirudeen Oladotun; National Public Relations Officer, Hajiah Madinat Adigun-Oladotun; and Special Adviser to the National President, Mr. Sulaiman Adoga.

Major highlights of the forum included a networking session and exhibitions featuring the University of Ilorin, Nigerian Office for Trade Negotiations, Lekki Worldwide Investments Limited, Alaro City and UNASCO Aviation Services Limited.