China Encouraged to Increase Investments and Technology Transfer to Boost Nigeria’s Economy
Nigeria’s Honourable Minister of Works, David Umahi, recently urged the Chinese government to enhance its investments in Nigeria’s economy, particularly in the area of infrastructure. During a courtesy visit by the Chinese Ambassador to Nigeria, Yu Dunhai, Umahi highlighted the ongoing contributions of Chinese firms such as CCECC, CHEC, CBC, and CGC in executing various road and infrastructure projects across the country. He emphasized the importance of Chinese support for President Bola Ahmed Tinubu’s vision of economic growth, particularly in the development of vital infrastructure.
Umahi specifically called for China to respond positively to Nigeria’s friendly overtures by increasing both investment and the transfer of advanced technology to Nigeria. He pointed out that such initiatives would help boost the Nigerian economy and enhance the capacity of local industries. Umahi also expressed interest in facilitating the transfer of world-class technologies used in China’s infrastructure sector, alongside providing specialized training for Nigerian engineers to foster local expertise.
In addition to his call for technology transfer, the minister encouraged deeper cooperation between the two nations, aiming to strengthen their bilateral ties. He specifically mentioned the potential benefits of the naira swap deal and urged the Chinese ambassador to expedite discussions on its implementation. Umahi believes that the agreement will help streamline financial transactions between the two countries, further enhancing their partnership.
The Chinese Ambassador, H.E. Yu Dunhai, reciprocated with praise for Nigeria, recognizing its cultural diversity and entrepreneurial spirit. He commended Nigeria’s potential as one of the world’s largest exporters, drawing parallels with China’s own economic standing. Ambassador Dunhai also expressed his support for President Tinubu’s leadership in providing infrastructure and assured the minister of China’s full cooperation in elevating the bilateral relationship, especially in light of Nigeria’s new membership in the BRICS nations.
source: punch