• Signs 55 agreements
From Adetutu Folasade-Koyi, Abuja
Director-General of the Nigeria-China Strategic Partnership (NCSP), Joseph Olasunkanmi Tegbe, has announced investment commitments of $20 billion from Chinese investors.
Tegbe said the investment commitments in 55 signed agreements would be deployed to trigger industrialisation of Nigeria, with specific focus on critical sectors, such as agriculture, automotive manufacturing, mining, steel production and energy.
The NSCP boss disclosed this at an interactive session with media executives in Abuja, where he underscored the NCSP’s role as a critical enabler, fostering productive partnerships between Nigerian stakeholders and Chinese business leaders.
“We want to be the hub for China in Africa. Nigeria needs to tap into the modernisation of China. These investments are set to boost food security, create jobs and drive a new wave of industrial development in the country. China is a formidable partner to work with.
“Following the elevation of Nigeria-China relations to a comprehensive strategic partnership and the establishment of the NCSP, Nigeria has recorded significant milestones in key sectors.
“Relations between Nigeria and China were initially between government to government but now, the NCSP is brought in to liaise with the private sector and address trade imbalance between Nigeria and China. Others have done it and Nigeria can do it,” he said.
He also reaffirmed the agency’s commitment to strengthening bilateral collaboration between Nigeria and China as part of efforts to drive Nigeria’s industrialisation and economic growth.
He also highlighted the NCSP’s ongoing commitment to coordinating investments, facilitating stakeholder engagements and ensuring due diligence, to guarantee that Nigeria-China collaborations yield tangible, long-term benefits.
He reiterated the NCSP’s mandate to steer the implementation of projects under the Forum on China-Africa Cooperation (FOCAC), while also pursuing additional partnerships beyond the formal agreements.
“Our focus is to ensure that Nigeria not only implements the FOCAC projects efficiently but also leverages Chinese expertise, technology and financing to reactivate Nigeria’s manufacturing and industrial sectors.
“We are paving the way for Nigerian products to gain access to Chinese and broader Asian markets, while accelerating the execution of strategic, game-changing national development projects later this year,” he stated.
The NCSP’s activities, he said, align with President Bola Tinubu’s Renewed Hope agenda, aimed at fast-tracking national development and positioning Nigeria as Africa’s industrial powerhouse.
As Director General of the NCSP, Tegbe said the agency would continue to bridge policy and execution by coordinating efforts across the government agencies, the private sector and diplomatic entities to ensure that Nigeria maximises its trade and investment relations with China for sustainable economic advancement.
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