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Beware of Chinese desperate to invest in Nigeria, Nigerians warn FG

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Some Nigerian businessmen who are conversant with industrial practice in China has called on the federal government to review Nigeria’s industrial policy and labour laws before allowing the Chinese to invade the economy. They say China is good in exploring industrial and law related lapses to do business in countries of their choice.

It would be recalled that recently, the Chinese Ambassador to Nigeria, Mr. Zhou Pingjian, said he had been inundated with requests by investors from his country who he stated had been “falling over one another” to explore business opportunities in Nigeria.

A statement by the Special Adviser to the President on Media and Publicity, Mr. Femi Adesina, said the envoy spoke when he presented his Letter of Credence to President Muhammadu Buhari at the Presidential Villa, Abuja.

Pingjian was quoted as saying that the investors had been attracted by what he called the “remarkable and audacious” change process that the present administration implemented in safeguarding security, fighting corruption and restoring integrity and sanctity in all public sector transactions.

Buhari told the envoy that the Federal Government was ready to provide counterpart funding for all agreements reached with the People’s Republic of China to fast-track ongoing efforts in closing the infrastructure gap in Nigeria.

He commended the readiness of the Chinese public and private sectors to invest in Nigeria, especially in areas that directly improve the livelihood of Nigerians.

The President said, “We really appreciate the efforts of the Chinese government and its people in supporting Nigeria’s development by always seeking to improve our bilateral relations.

“We are also happy that China is working with Nigeria as partners in progress. We will work hard to always meet the counterpart funding for all the agreements reached during my visit to China in April, as we look forward to stronger ties.”

Buhari also noted that the relationship between Nigerian and China had over the years bolstered the former’s economy through technology and skills transfer in areas such as rail, road construction and energy.

The President said Nigeria was ready to receive prospective investors from China who had signified interest in the country.


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