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FG eyes China for funding to bridge infrastructure deficit

By Michael Eboh & Susan Onuorji
Abuja—The Federal Government has emphasized its determination to partner with the government of China and some Chinese investors to bridge Nigeria’s huge financing gap, especially in the area of infrastructure development.

Minister of State for Industry, Trade and Investment, Mrs. Aisha Abubakar, disclosed this in Abuja, at the Nigerian Investment and Financing Summit, organized by the government of Jiang Xi Province, China; Export-Import Bank of China, Jiang Xi Branch, in collaboration with the Nigeria-China Business Council, NCBC.

Abubakar, who was represented by Mr. Rufai Tokunbo, a director in the Ministry, stated that China had a lot to offer Nigeria in terms of trade, investment and financing of energy projects in the country.

According to her, there are many states and industries that are moribund and which are looking for funds to tackle the challenges of growth and development.

She, however, stated that the Federal Government was keen at removing obstacles and inhibition to the ease of doing business in the country, adding that the government would, henceforth, provide the necessary support for businesses willing to invest in the country.

Abubakar said: “Trade and investment policies, laws and incentives are been renewed to bring them in line with global practices. We will leverage the technology to improve the speed and efficiency procedures and to ensure transparency.

“Over the past two decades,  China has become an important partner In Nigeria’s growth and development. We believe this will continue and the established relationship will help  Nigeria to lift the people out of poverty and realize the  opportunities for improving  transformation.”

“We ask the investors from Jiang Xi Province in China to set up production facilities in the country. This would ensure value addition,  creation of jobs and will enhance   development in the country. We equally see you as one of the people  that can assist us to bridge an international gap especially in economy and infrastructure.

“We must not see Nigeria as a consumer market alone,  but as an investment destination where goods can be manufactured and consumed locally. The Federal Ministry of Industry,  Trade and Investment is permitted to support investors that are ready to establish manufacturing and processing facilities in Nigeria.”


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