Nigeria has received $20 billion worth of investments from Chinese companies

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The president of the China Chambers of Commerce in Nigeria (CCCN), Mr. Ye Shuijin said the total investments of Chinese companies in Nigeria has reached $20 billion.

Shujin noted that 160 Chinese companies domiciled in the country have employed over 200,000 Nigerians. He further disclosed that the companies are promoting what he called the ‘people to people’ cultural diplomacy of the Belt and Road Initiative of the People’s Republic of China in Nigeria.

The President, who is also the Managing Director of China Geo-engineering Company, also said that his company, which was established in Nigeria in 1983, has offices in 30 states.

According to Shujin, “I believe the Chinese investment in Nigeria now is about $20 billion and we have employed over 200,000 Nigerians. Our workforce is 95 percent Nigerians. We also worked with the Industrial Training Fund to train over 1,000 Nigerians last year and we have similarly trained 350 Nigerians in agriculture export. We have sponsored 30 students to China on scholarship as part of our advanced capacity building for Nigerians”.

Shujin said the  improved infrastructural development in Nigeria is one of the factors encouraging many more Chinese businessmen and firms to invest in the Nigerian economy.

He however noted that there is the need for further improvement, adding that companies operating in the country continue to experience some challenges.

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