As the Federal Government continues its drive towards foreign direct investments into critical sectors of the economy, Nigeria has again secured over $20 billion in investment commitments from China, aimed at transforming key sectors of the Nigerian economy.
The Director-General of the Nigeria-China Strategic Partnership (NCSP), Mr. Joseph Tegbe, who made this disclosure in a statement at the weekend, said the investments were channelled into agriculture, automotive manufacturing, steel, energy, and mining sectors of the economy and were part of ongoing efforts to fast-track Nigeria’s industrial boom through deepened collaboration with Chinese business leaders.
According to him, the $20 billion commitment, the disbursement of which will start before the end of this year, is secured through a series of engagements sequel to the recent elevation of Nigeria-China relations to a Comprehensive Strategic Partnership (CSP).
The Director-General stated: “Following the elevation of Nigeria-China relations to a Comprehensive Strategic Partnership and the establishment of the NCSP, Nigeria has recorded significant milestones in key sectors.
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“Recent engagements have secured over $20 billion in investment commitments, focusing on critical sectors such as agriculture, automotive manufacturing, mining, steel production, and energy. These investments are set to boost food security, create jobs, and drive a new wave of industrial development in the country.
“These are not just promises. We are looking at tangible projects that will create jobs, boost food security, enhance power generation, and reposition Nigeria as a major manufacturing hub in Africa”, Tegbe added.
