BUSINESS & ECONOMY
Nigeria Secures Landmark Deals With Chinese Firms, Boosting Economic Revitalisation Plan
Abuja, Nigeria – A Nigerian delegation has returned from a successful investment-seeking trip to China, securing a series of significant agreements with top Chinese companies that promise substantial investment in key sectors of the Nigerian economy.
The Nigeria-China Strategic Partnership (NCSP), led by Director-General Joseph Tegbe, concluded its tour aimed at furthering the Nigerian government’s economic revitalisation plan.
The agreements reached with companies including Chilwee Group, China Communications Construction Company (CCCC), China Electronic Corporation (CEC), China Harbour Engineering Company, Huawei, and Loong UAV represent a major step forward in strengthening bilateral relations and promoting economic cooperation.
A key highlight is the commitment from Chilwee Group, a leading battery and power storage solutions manufacturer, to invest in Nigeria.
This multifaceted investment will encompass sales, manufacturing, and potentially the mining of raw materials, aligning with Nigeria’s renewable energy goals and efforts to enhance energy security.
“This partnership is crucial for promoting renewable energy, reducing carbon emissions, and bolstering our energy security,” stated Tegbe.
Further bolstering the healthcare sector, a tripartite agreement was facilitated between CPL Medical group, CSSC Haishen Medical Technology Co Ltd, and China Harbour Engineering Company for the renovation and upgrading of equipment in Nigerian teaching hospitals.
Tegbe highlighted this as a prime example of the private-sector collaboration the NCSP seeks to promote.
Significant cooperation is also expected in the technology sector. CEC expressed keen interest in collaboration on electronics equipment, public security surveillance, digitisation of public services, and identity management.
Huawei, a global ICT leader, pledged significant investment in Nigeria’s ICT sector, focusing on training, smart city development, and digital infrastructure, emphasising their commitment to supporting Nigeria’s digital transformation.
Andrew Zhanh, Huawei’s Vice President, stated, “We believe our technologies can significantly impact economic growth and improve the quality of life for Nigerians.”
Adding another dimension to the agreements, Loong UAV, a global leader in tactical drone solutions, plans to enter the Nigerian market, initiating trade and eventually establishing a manufacturing plant.
The NCSP’s efforts align with Nigeria’s Renewed Hope Agenda and China’s Belt and Road Initiative (BRI).
Tegbe expressed confidence that these partnerships will drive economic growth, create jobs, and significantly improve the lives of Nigerians.
The secured agreements represent a substantial step towards achieving Nigeria’s economic revitalization goals and strengthening its position within Africa’s industrialization landscape.
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