Chinese investors to explore new investment opportunities in Lagos

Chinese investors are to explore new investment opportunities in oil and gas, agriculture, construction and manufacturing in Lagos State raising prospects for the injection of billions of dollars into the economy, Chu Maoming, Consul General of the People’s Republic of China, has said.

This is expected, as the Lagos State governor, Babajide Sanwo-Olu, says his administration is ready to leverage the huge population of the state to further create economic opportunities by training and equipping people with skills.

Both men spoke when Maoming led some Chinese investors on a visit to Sanwo-Olu at the State House, Alausa, on Monday.

According to the Consul General, the visit was an indication of the readiness of the Chinese business community to further inject billions of dollars in the Lagos economy.

“I arrived Nigeria in May and I have visited a lot of Chinese businesses operating across the country, including Lagos, but there is still good news. The Chinese business community has concluded plans to increase their size of investments in Lagos.

The presence of vice chairperson of the China’s biggest oil company, National Offshore Oil Corporation, in this visit is an indication of the readiness of the Chinese business community to inject billions of dollars in the Lagos economy. We are exploring other areas of opportunity in which China and Lagos can cooperate to sustain our bilateral partnership,” said Maoming.

On his part, Sanwo-Olu said his administration’s development agenda was aimed at leveraging the population of the state for sustainable socio-economic development.

According to him, although the state faced the challenge of a growing population, the government was prepared to turn the burden to opportunities by training and equipping the people.

He said Lagos intended to strengthen its relationship with the Chinese government to build human capital by exposing young people to areas likes technology, agriculture, manufacturing, construction and cultural exchange.

“Lagos and China can learn from each other, because we share similarities in several areas. Both entities are hugely populated, with Lagos being the most populous city in Africa. China has a huge population not only in Asia, but also in the world. Based on these similarities, we can promote value exchange that would lead to improved human capital development on both sides, Sanwo-Olu said.

 

JOSHUA BASSEY