‘More Chinese manufacturers willing to set up factories in Nigeria’

A businessman has said that more factories in China are desirous of setting up local plants in Nigeria to strengthen an already vigorous bilateral trade relationship between the two countries.

“There are companies that are interested in moving their factories to produce locally here and also there could be some joint projects in multiple fields which could be in oil & gas and also in some other commodities,” Binu Pillai, chief operating officer of Meorient International, said at the just concluded China Homelife Show in Lagos.

Pillai disclosed that Chinese investors were also eyeing Nigeria’s transportation and energy sectors.

“If I have to highlight, the transportation industry is one sector we are looking at and energy is another sector,” he said at the event, which attracted about 160 Chinese manufacturers to Nigeria.

Also speaking at the event, Mu’azu Ruma, general manager of Nigeria Export Processing Zones Authority (NEPZA), said Nigeria- China bilateral trade is a win-win for both countries.

When BusinessDay asked if the importation of cheap Chinese products into Nigeria would not negatively affect the made-in Nigeria products, Ruma replied that there were safety measures to ensure that Nigeria would not be an importing country.

On whether or not the Chinese manufacturers have started setting up factories in Africa’s most populous nation, Ruma said, “We told you that we have free zones all over Nigeria and what it means is that instead of importing the finished goods from China, the Chinese are coming to set up here in the free zones like Lekki Free Zone, Snake Island and others. All these are platforms and zones provided for domestication of production in Nigeria.”

On why China Home Life was held in Nigeria, Pillai said, “We organise shows like these in 13 different countries such as Brazil, South Africa, India, Dubai, Jordan, and Turkey. Our focus is on emerging markets. And why we are now in Nigeria is because there is a special focus on the country.

“You know that Nigeria’s president went to China to negotiate further support for both countries. We want to provide a platform for trade and investment for investors, traders and manufacturers,” he stated.

Meanwhile, Xi Jinping, Chinese president, announced at the 2018 Beijing Summit of the Forum on China-Africa Cooperation (FOCAC) in China’s capital that the country was going to invest about $60 billion into Africa.

Endurance Okafor