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Chinese Investors Eye Energy, Rail, Communication Sectors

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Tuesday, May 24th, 2016
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A group of investors from China on Monday in Abuja, expressed investment interest in energy, railway and communication sectors of Nigeria’s economy.

The leader of the delegation, Mr Alan Rainbird, President, Intrazones Energy Services Limited, stated this when the team paid a visit to the Minister of State for Foreign Affairs, Mrs Khadija Abba-Ibrahim.

Rainbird, said the visit was to promote investment cooperation between China and Nigeria.

He said that the 20 man delegation comprising leaders of major companies in China would strike deals that would guarantee economic stability and national security in Nigeria.

“We want to promote our cooperation between the two countries and contribute our quotas to the growth of Nigerian economy.

“Our programme for Nigeria is larger than railway construction.

It will bring large scale permanent employment to the people; it will add value to the nation’s resources and generally address the problems of instability and insecurity. It will also bring down the country’s level of import.

“Investing in railway is an important part of infrastructural programme because it will have ripple effect on all sectors of the economy,” he said.

He also disclosed that the team would be visiting Lagos and Calabar subsequently.

The Chief Executive Officer, Research and Design Institute Group, Mingzh Wang, said the visit of Chinese companies to the country was a sign of their commitment to the business opportunities.

“It will also contribute in strengthening the corporation between Nigeria and China”, he said.

He said that his company was interested in investing in refinery and the oil sector.

The minister commended the investment drive of the delegation, stressing that the relationship between Nigeria and China has been a cordial one, adding that there are several Chinese Companies operating here in Nigeria.

Abba-Ibrahim said that one of the priorities of the government was to improve on the economy, which has over the years, depended largely on oil.

“As you know, our economy has depended on oil but with the fall in oil price, the government is trying to diversify its revenue base”.

She said that investing in the transport, energy and communication sectors of the economy would be a welcome development in view of the employment opportunities the investments will create.

The minister also thanked the Chinese government for the warm reception accorded Nigerian government during the recent visit to China.

Abba-Ibrahim stressed that the follow-up by Chinese companies with a visit to Nigeria showed their zeal to invest in the country. (NAN)

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