A team of Chinese investors led by the Governor of Zheji ang Province, Lu Zushan, is currently visiting Nigeria’s South-west state of Ogu n on an investment drive.
The team is expected to sign a Memorandum of Understanding (MOU) aimed at expand ing the frontier of both countries’ economic bilateral relations.
”We are here to find opportunities in various sector of your country economy,” Lu told journalists through an interpreter, shortly after arriving at the Murta l a Muhammed International Airport in the Commercial City of Lagos.
He was received by host Governor Gbenga Daniel and the Chinese Ambassador in Nig eria.
The 52-member team, which comprises industrialists from various sectors, were du e to meet with local investors and government officials. They will also be part o f the sod-turning ceremony of an industrial park being built by the government i n conjunctions with a Chinese firm.
Some of the Chinese companies whose representatives are on the entourage are Zhe njiang Orient Engineering Company, Zhejiang Noble lift Equipment Joint Stock Com p any, Zhejiang International Investment Promotion Centre and XIZI United Holding C orporation.
The Chinese investors are seeking to invest in textile and garment industry, pow er generation, building materials manufacturing, agriculture, ecology, pharmaceu t icals, herbs, vegetable and meat processing in the 33-year-old state, located ab o ut one hour’s drive from Lagos, Nigeria’s economic nerve centre.
Currently, the Nigerian state is partnering with another Chinese province to set up a trade zone, called the Ogun-Guandong Free Trade Zone, located in western p a rt of the state.
The Nigerian-Sino relationship has recently witnessed tremendous growth with man y Chinese investors playing key roles in the African country’s economy.