Trade Between Nigeria And China Will Decline By $10 Million In 2022 – Ambassador

Yingqi, who acts as the embassy’s Chinese Economic Affairs officer, claimed that his government is now developing plans for Nigerian companies to invest in China in order to strengthen the two countries’ already strong relationships.

He stated: “despite daunting challenges like the Covid-19 experience, the Chinese government is ever willing to promote the country’s investments in Nigeria because we have been enjoying support from the government and her agencies”.

As he accompanied a group of Chinese investors on a fact-finding visit to the Nigerian Export Promotion Commission (NIPC) in Abuja yesterday, he revealed this.

The NIPC Executive Secretary, Saratu A. Umar, stated in her speech that while Nigeria will continue to welcome foreign investment, the nation is more committed than ever to stop the export of its raw commodities.

Umar stated that: “We are now inviting our numerous investors, including the Chinese, to put more effort by establishing manufacturing and producing industries here instead of exporting only our raw materials. We expect Chinese companies to process our raw materials here locally, which will further promote value addition before exports.”

“This will encourage a win-win benefit to both countries as it will help create jobs for our people, encourage technology transfer as well as help us conserve forex while our companies are free to repatriate their profits without delay. The whole essence is to ensure there is a great improvement along the value chain”.


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