NEF urges Nigerians to take advantage of China investment opportunities
The Nigeria Entrepreneurs Forum (NEF) has urged the Nigerian business community to take advantage of trade and investment opportunities presented by China to boost their businesses.
Mr Sidney Inegbedion, President of NEF, made the call on Friday, in Abuja at the Forum on China-Africa Cooperation (FOCAC) summit: Perspective on Nigeria.
The Summit is with the theme: “Strengthening Nigeria-China Trade and Investment Relations in an Era of Global Change.’’
According to Inegbedion, Nigeria adjudged the largest economy in Africa, stands at the threshold of being able to take advantage of myriad of trade and investment opportunities.
“The success or failure of the African Continental Free Trade Area will be measured by the respective member countries through evaluation of it’s direct foreign investment attraction, volume of trans-national trade and cultural exchanges.
“The pursuit of the ideal to make Nigeria and his business a success has enabled us to take challenges others shy away from. “This has also made us to become industry leaders and source for inspiration,” he said.
Inegbedion added that the essence of the summit was to foster strategies that Nigeria needed to adopt to benefit from the huge opportunities across the various sectors of China’s proposal.
On her part, the Director of Investment Promotion Department, Federal Ministry of Industry, Trade and Investment (FMITI) Mrs Arodudu Olukemi, stressed the need for Nigeria to focus on strengthen bilateral relationship with China.
Represented by Mrs Hellen Garpiya, Deputy Director, Investment Promotion Department, FMITI, Aroduudu noted that it was important to learn from China’s tenacity critical in boosting Nigeria’s economy.
According to her, Nigeria is a blessed land, therefore, it is important to authenticate investment and ensure deals are signed with the support of government.
Alhaji Sule, Representative of Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) advised businesses in Nigeria to go back to the drawing board.
He emphasised the need for them to re-strategise to remain relevant in the economic sector.
“Nigeria is a blessed country and it is time for us to diversify from relying on oil and gas solely.
“There is too much wealth but the difficulty is how we can tap into it.
“It therefore means that we must change our ways to move the country forward.
“Nigerian businesses should be cautious of challenges that are bound in business operations in the coming years.
“Therefore, there is a dire need to sit up and cease the present opportunities,’’ he said.
Mr Peter Bakare, Secretary, Federation of Agricultural Commodity Associations of Nigeria (FACAN), canvassed that the investment deal with China must be mutually beneficial.
“Nigeria is the garden of eden of today because we have everything but we don’t have the ability to make sure we are successful.
“That is why I strongly appeal that any investment deal should be mutually beneficial for both countries.
“Like China, Nigeria should be determined to rise above any form of slavery especially in the economic sector.
“We need to follow through every agreement and deal wisely with partners,” he stressed.
“Ms Ajoke Ayandele, an international trade expert, hailed China’s proposal to Africa and urged Nigerian youth to leverage the opportunity to grow their businesses.
“The agreement alone is beautiful as it will recognise the importance of micro, small and medium enterprises and capture the need for appropriate labor regulations.
“The major challenge that may arise would be at the stage of implementation.
She said that the poverty reduction programs offered by China in the deal had the potential to create wealth for Nigeria and other African countries.
According to her, the youth should rise up and get ready to cease the opportunities even before they arrive, especially in the agricultural sector.
“The era for growing wealth through farming is before us and we must utilise it,” she said.
She pointed out Nigeria’s readiness to engage in businesses and deepen trade relations with China.
The Nigeria NewsDirect recalls that President Xi-Jinping of China in his speech at the FOCAC summit held in Senegal in Nov. 29 to Nov. 30, made four proposals on promoting China-Africa development.
They are fighting COVID-19 with solidarity, deepening practical cooperation, promoting green development and upholding equity and justice.
He also announced that China would undertake 10 poverty reduction and agricultural projects and set up China-Africa joint centres for agro-technology exchanges among others.
