Chinese Firms Will Continue to Support Nigeria’s Economic Development, Says CGCCN DG

Michael Onjewu, Abuja

Dr Tristan Cui, Director-General of the China General Chamber of Commerce in Nigeria (CGCCN), has reiterated China’s commitment to supporting Nigeria’s economic growth and development.

Speaking at the second Foreign Direct Investors roundtable held at the Presidential Villa in Abuja on Wednesday, Cui stated that Nigeria holds a significant place in China-Africa cooperation, with China investing $40 billion in the country over the past five years.

“Today, Nigeria is China’s second-largest export market, third-largest trading partner, and one of the most important investment destinations in Africa,” he said.

“In terms of investment, beyond the oil and gas sector, China has invested a total of $40 billion in Nigeria over the past five years. These investments span infrastructure, manufacturing, agriculture, and renewable energy, supporting Nigeria’s efforts to diversify its economy.

“We firmly believe that Chinese businesses will continue to contribute to Nigeria’s economic development and that both sides can achieve great results in areas such as infrastructure, agriculture, and renewable energy,” Cui added.

The Director-General listed exchange rate volatility, access to foreign currency and insecurity as major challenges faced by Chinese enterprises operating in Nigeria.

He called on the Nigerian government to make the country safer for businesses to attract more investment and create better opportunities for everyone.

Earlier in his remarks, Olayemi Cardoso, Governor of the Central Bank of Nigeria (CBN) said the apex bank will continue to implement policies that will ensure macroeconomic stability, strengthen the financial sector, and create a conducive environment for both local and foreign investors.

He noted that the recent launch of the foreign exchange code aims to ensure a transparent, efficient, and well-funded foreign exchange market that supports economic stability and investor confidence.

Organized by the Presidential Enabling Business Environment Council (PEBEC), the event was attended by distinguished personalities including Ibrahim Hassan Hadejia, Deputy Chief of Staff to the president; Olayemi Cardoso, Governor of CBN; Hyacinth Alia, Governor of Benue State; Peter Mbah, Governor of Enugu State, Kola Adewusi, Deputy Governor of Osun State, Jumoke Oduwole, Minister of Industry, Trade, and Investment; Yusuf Tuggar, Minister of Foreign Affairs; Uche Geoffrey Nnaji, Minister of Innovation, Science, and Technology; Princess Zahrah Mustapha Audu, Director-General, PEBEC; Adewale Adeniyi, Comptroller-General of Customs, captains of industry, investors, business leaders, members of the diplomatic community and representatives of chambers of commerce.