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RADP / Pulse Ghana  >  business  >  International

See the four economic giants that recommitted to strengthening trade ties with Nigeria

Chinedu Okafor
20. Lagos, Nigeria
20. Lagos, Nigeria
  • Chinese, Indian, Mexican, and Indonesian envoys affirm commitment to increased economic engagement during the "Invest Nigeria" conference organized by the Lagos Chamber of Commerce and Industry. 
  • Chinese Ambassador Jian Chun highlights Huawei and other Chinese companies' strategic investments aimed at enhancing connections between China and Nigeria. 
  • Indian ambassador cites $19 billion investment in multiple sectors over four decades, with a focus on venturing into novel areas like renewable energy.

Chinese, Indian, Mexican, and Indonesian ambassadors have stated that their countries will continue to increase their economic involvement in Nigeria. The envoys spoke during the International Business Conference and Expo 2023, which was themed "Invest Nigeria" and was put on by the Lagos Chamber of Commerce and Industry.

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Jian Chun, the Chinese ambassador to Nigeria, declared that via sustainable investments, China hoped to strengthen connections with Nigeria. He mentioned how several Chinese businesses, including Huawei, had already started to strengthen their position in Nigeria through tactical investments, as reported by the Nigerian news agency, The Punch.

Shri Balasubramanian, India's ambassador to Nigeria, noted that India has invested $19 billion in the industrial, food, and pharmaceutical industries during the previous 40 years. “So, there have been a lot of investments, a lot of projects in Nigeria in the last four decades,” he said.

According to him, there are presently initiatives underway to invest in novel fields, such as renewable energy, in response to needs brought on by our rapidly evolving society.

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Usra Harahap, the ambassador of Indonesia to Nigeria, referred to Nigeria as its vital partner in Africa. In particular, he stated, the country's economic connections to Nigeria will be strengthened.

Alfredo Miranda, the Mexican ambassador to Nigeria, promised to improve trade ties between his nation and Nigeria.

Michael Olawale-Cole, the president of the Lagos Chamber of Commerce and Industry, stated in his opening comments that the conference offered a great chance to talk about the Nigerian economy and find investment prospects.

A thriving investment environment is crucial for sustainable growth, according to Lagos State Governor Babajide Sanwo-Olu, who was speaking via his deputy chief of staff, Gboyega Shoyanwo.

Chinedu Okafor Chinedu Okafor Chinedu is a Senior Reporter at Business Insider Africa with 5 years experience creating profoundly engaging and insightful content.

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