Published On: Mon, Oct 9th, 2017

200 Chinese investors to invest in Nigeria

FELIX OLOYEDE

Nigerian President Muhammadu Buhari (L) and Chinese President Xi Jinping

No fewer than 200 Chinese mining companies have declared interest to invest in Nigeria’s mining sector.

Business Hallmark gathered that the Minister of State in the Ministry of Mines and Steel Development, Bawa Abubakar, in September, led Nigeria’s delegation to the China Mining Conference in China.

During the conference, Nigeria and China organised the second Cino-Nigeria Summit to showcase Nigeria’s mineral potentials.

A competent source at the Ministry said that “we got this huge number of investors through a website set up as Cino-Nigeria Finance Alliance Group during the summit.

“The first edition of Cino-Nigeria investment cooperation started last year in china but the 2017 edition was a huge success for Nigeria because of the large number of investors that declared interest to invest in the Nigeria mining sector,” the source said.

The source said the Ministry, elated by the feat, had stepped up arrangements to receive the investors before the end of the year, to enable them to begin necessary steps towards investing in the sector.

It said that the feat was also part of the ministry’s strategies to promote the mineral potentials of the country and further create employment for the population.

The strategies are also designed to ensure that the mining road-map is adequately implemented to contribute five to 10 per cent to the Gross Domestic Product (GDP) of the country. (NAN)

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