Foreign ministry claims as many as 200 Chinese firms are interested in investing in Nigeria

AS many as 200 Chinese companies have expressed an interest in investing in Nigeria according to foreign minister Ambassador Yusuf Tuggar who believes that the economy provides good returns on investment that appeals to investors.

Speaking on the sideline of the China-Nigeria Business Summit, which took place in Beijing, Ambassador Tuggar said that 200 Chinese companies have expressed an interest in Nigeria since President Bola Tinubu assumed office in may last year. Jointly organised by the Nigerian embassy in Beijing and Yingke Law Firm, the China-Nigeria Business Summit was designed to ease increased bilateral trade and investment and foster business match-making to deepen economic ties between the two nations.

A foreign ministry spokesman said: “Ambassador Tuggar emphasised the importance of the long-standing relationship between Nigeria and China, highlighting mutual respect and shared developmental goals. Over 200 Chinese companies took part in the event, showing a strong interest in fostering economic collaboration between the two nations.”

As part of his working visit, Ambassador Tuggar will take part in several high-level meetings and events. These include the inaugural plenary session of the Nigeria-China Intergovernmental Committee in Beijing and the World Economic Forum Annual Meeting of the New Champions in Dalian.

“These engagements are expected to further solidify the strategic partnership between Nigeria and China. He is also expected to meet with Economic Community of West African States (Ecowas) ambassadors as well as launch the 4D Cultural Diplomacy Programme of the Renewed Hope Agenda of President Bola Tinubu at the Embassy of Nigeria,” the foreign ministry spokesman added.