Indeed, Naira devaluation is probably the most potent weapon against the prosperity of Nigerians. Nigeria’s migration from a potential industrial power house with bustling social affluence, to a subdued and stumbling economy clearly began with the adoption of IMF’s Structural Adjustment Programme during Babangida’s regime: the chorus from International Agencies, at that time, was also that falling oil prices with an unserviced debt burden and the consequent restriction of trade credit to Nigeria, were the products of an allegedly overvalued Naira exchange rate.
By Vera Samuel Anyagafu
Nigerian businessmen in China have expressed the need to have both visiting and resident Nigerians in China process travelling documents to China without much hassles, stressing that Nigerian businessmen alone, flow about $100 million into the city of Guangzhou, China, on a daily basis.
Also concerned about the new development, Nigerian China-based Shanghai Engineering Construction Company (SECC) boss, Mr. Fetus Mbisiogu, told Vanguard that Nigerian businessmen contribute enormously to the development of both China and Nigeria economies, saying that, Nigerians have added value to Small and Medium Enterprise (SME) operations in every facet of China and have created employment even for the locals.
He said that Nigerians maintain the most active and industrious African community in Guangzhou, adding that, while Nigerian businessmen in China own legitimate and reputable companies in China, many Chinese nationals are still registering businesses in Nigeria.
“As a matter of integrity, the Federal government of Nigeria should consider a closer look at the situation and ensure that the new visa application rule by the Chinese mission in Nigeria is made simpler. The new visa application order by the Guangdong Province (Guangzhou) requiring that Nigeria passport holders, should not be given resident visa, irrespective of their business inclination does not represent the campaigned on-going healthy bi-trade relationship. In my observation, this not a balanced diplomacy and does not portray a win-win cooperation envisaged by both parties,
“Therefore, on behalf of all Nigerian businessmen who own legitimate businesses that are bringing development to China and Nigeria, we want this imbalanced situation addressed with utmost concern to the plight of many Nigerians”, Mbisiogu added.
He further stated that diplomacy is a give and take affair, adding that “Nigerians constitute the bulk of Africa-China business transactions and statistics show that out of 70 per cent of business conducted in Guangzhou, China, 50 per cent are undertaken by Nigerian visiting businessmen,
“Nigerians add value to the SME operations in every facet of the city and have created employment even for the locals. On a daily basis, about $100 Million flow into China from Nigerian businessmen. And despite the immense contribution Nigerians made to the business development of Sino-Nigeria Cooperation in the province of Guangdong, one wonders why prospective Nigerian visa applicants to China would not be allowed to have resident visa.
Disclaimer
Comments expressed here do not reflect the opinions of Vanguard newspapers or any employee thereof.