At least 217 businesses owned by Chinese entities have shown interest in investing in Nigeria.
Hon. Kunle Yusuff, who serves as both the Executive Vice-Chairman/CEO of Merited Negotiation Consulting and Consultant to the Committee on Nigeria-China Relations, made this announcement at the unveiling ceremony for the Nigeria-China Bilateral Business, Trade, and Investment Summit 2025 held in Abuja.
He mentioned that the Summit will offer a stage to pinpoint the areas where Chinese firms function, which include agriculture, mining, solid minerals, renewable energy, oil and gas, construction, among others.
As per his statement, the main aim is to set up a feedback system enabling the government to grasp the difficulties encountered by Chinese firms and suggest remedies aimed at enhancing the simplicity of conducting business in Nigeria.
He stated: "Beyond tackling issues, the summit aims to foster international strategic cooperation, allowing both Nigerian and Chinese enterprises to tap into worldwide alliances and prospects for foreign direct investment."
The main topics of discussion will focus on enhancing organizational connections, attracting direct investments, and fostering cooperation with both state governments and the private sector. The summit seeks to transform the Nigeria-China business relationship from being primarily trade-oriented to becoming more focused on driving development.
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Companies from China operating in Nigeria will get the chance to work alongside state governments via collaborations set up between the Chinese embassy and the Director-General of the China Chamber of Commerce.
Furthermore, the summit aims to produce a report that will underscore the difficulties faced by businesses and suggest potential legal measures to enhance the operating climate for Chinese enterprises in Nigeria.
The committee arranging the summit is collaborating closely with major stakeholders such as the Ministry of Foreign Affairs and the Nigeria Investment Promotion Commission (NIPC) to guarantee its success.
The newly established technical team is currently working on developing a system aimed at advancing this process. Their efforts prioritize establishing conditions that foster greater investment opportunities and enhance commercial partnerships.
Given the involvement of 217 Chinese firms eager to invest in Nigeria, this summit will act as an essential forum for building collaborations and promoting shared commercial success between Nigeria and China.
He mentioned that Merited Negotiation Consulting, which serves as a consultant for the Committee on Nigeria-China Relations, is a Nigerian company with an extensive international partnership network.
This entity focuses on business negotiations, strategic growth, commerce, and investment, forming global partnerships, international diplomacy, and serving as moderators for grants and interventions.
Significantly, we've effectively organized three key global gatherings during the UN General Assembly in 2023 and 2024, assembling prominent Nigerian entrepreneurs with international financiers. Additionally, we received an appointment from the CEO Summit at Liberty University in Virginia, USA for 2024 to facilitate African CEOs gaining entry into a worldwide collaboration network.
In his statement, Chairman of the House of Representatives' Committee on Nigeria-China Parliamentary Relations, Hon. Yakubu mentioned that the committee was set up to recognize "China's increasing role in the global economy and its substantial effect on Nigerian economic growth."
During our service delivery, we recognize opportunities for enhancing business partnerships between Nigeria and China.
To tackle this issue, the Committee has enlisted Merited Negotiation Consulting Firm as a consultant to arrange summits in Lagos and China, and to present a comprehensive report to the National Assembly.
This event seeks to achieve several goals: first, it will highlight trustworthy investment opportunities; second, it will display ready-to-market projects to engage potential investors; third, it aims to encourage cooperation; fourth, it strives to enhance the business climate via partnerships; finally, it promotes connections between investors and financial institutions facilitated by products.
Additional areas of emphasis encompass agriculture, mining and solid minerals, power along with renewable energy sources, the oil and gas sector, construction and civil engineering projects, as well as manufacturing.
During his speech, Nigeria’s Minister of Foreign Affairs, Yusuf Tuggar urged Nigeria to update its commercial environment by eliminating barriers to investment and promoting innovation.
Ambassador Bolaji Akinremi, representing the Director of Economy, Trade, and Investment at the Ministry of Foreign Affairs, emphasized that the minister stressed the importance of Nigeria readying itself for expansion by eliminating obstacles that impede investment, innovation, and sustainable progress.
"He emphasized, 'It’s crucial to transition away from obsolete frameworks towards progressive, tech-oriented business environments,' underscoring the importance of establishing a conducive atmosphere for entrepreneurs at home and abroad," he stated, highlighting the necessity of this change.
Ambassador Akinremi also emphasized the significant part that the Nigeria-China Relations Committee has taken in strengthening relationships between the two nations.
He said, "A new era in Nigeria-China relations has begun. It is essential for us to collaborate closely to realize Nigeria’s complete potential, emphasizing the improvement of the business environment."
Mr. Wang Ying-Ki, who represents the Chinese Embassy, emphasized again during his speech the significance of Nigeria as China’s top trading, investing, and infrastructural collaborator within Africa under the capacity of Economic and Trade Commercial Counselor.
He commended the recent official trip of President Bola Tinubu to China, during which both leaders talked about enhancing the economic relationships between their countries.
"The accord they signed spurred action within the business sector and established a framework for improving our collaboration," Wang pointed out, underscoring China’s dedication to infrastructure advancement and investments in Nigeria.
Pointing to the achievements of the Ogun Free Trade Zone and the Nike Free Trade Zone, Wang reaffirmed China’s ongoing commitment to investing in Nigeria.
The framework we have established provides a strong base for Nigeria to enhance its investment climate. I am privileged to work alongside each of you, and my team stands ready to assist you," he stated, encouraging additional Chinese enterprises to explore opportunities in Nigeria.
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