China to partner Lagos on trade 

The Consul General of the People’s Republic of ChinaMr. Chu Maoming has disclosed plans to partner with the Lagos State Government to increase trade in Lagos. 

This was disclosed during a courtesy visit to Governor Babajide Sanwo-Olu at his office at Alausa, Ikeja where he hosted the Consul General.  

[READ MORE: FG okays N100 billion for the completion of Kano Free Trade Zone]

Maoming stated that Chinese private sector investors were eager to invest in trade. He said that this collaboration would result in job creation and knowledge transfer for Lagos residents.

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

“The presence of the vice-chairperson of China’s biggest oil company, National Offshore Oil Corporation, here today 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.” 

While speaking on the collaborationSanwo-Olu said his administration planned to expand the state government’s relationship with the Chinese Government to build human capital by exposing young population in the State to training opportunities in diverse areas, including technology, agriculture, manufacturing, construction and cultural exchange. 

He added that Lagos and China had shared a long history of collaborations, but that his government would deepen the relationship. 

[READ ALSO: Nigeria’s total Foreign Trade hits N8.6 trillion in Q2 2019, up by 4.4%]

Deal book 300 x 250

Why this matters: There is already a large population of Chinese people living in Nigeria, Lagos in particular. They run a number of businesses in the country. This partnership will, therefore, attract more Chinese investors to the country to grow private enterprises while localising them to help create jobs and in turn grow the economy. It will also be an opportunity to transfer technology to build the skills of young people. 

 

 

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