Business & Economy

Chinese Investors Eye $40 Billion Investment in Key Nigerian Economic Sectors

Published

3 days ago

Mar 20, 2025.

Over 216 Chinese companies have indicated their willingness to invest in crucial areas such as infrastructure, manufacturing, agriculture, technology, mining, solid minerals, power, renewable energy, oil and gas, construction, and small and medium enterprises (SMEs).
The Director-General of the Nigeria-China Strategic Partnership (NCSP), revealed that Chinese investors remain eager to strengthen their presence in Nigeria’s economy.
In 2024, China invested a record $163.1 billion abroad, demonstrating its commitment to international cooperation and growing global influence.

In a significant boost to Nigeria’s economy, Chinese investors have expressed interest in injecting an additional $40 billion into the country’s various sectors.

Eko Hot Blog reports that over 216 Chinese companies have indicated their willingness to invest in crucial areas such as infrastructure, manufacturing, agriculture, technology, mining, solid minerals, power, renewable energy, oil and gas, construction, and small and medium enterprises (SMEs).

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Joseph Tegbe, the Director-General of the Nigeria-China Strategic Partnership (NCSP), revealed that Chinese investors remain eager to strengthen their presence in Nigeria’s economy.

Out of the 261 job expressions received from Chinese investors, 74 are focused on the oil and gas sector alone.

To facilitate these investments, the NCSP is working closely with relevant government agencies to ensure that these pledges translate into tangible benefits for Nigerians.

The partnership aims to rebalance trade between Nigeria and China while boosting foreign direct investments from the Asian economic powerhouse.

Tegbe acknowledged that in the past, regulatory bottlenecks, bureaucratic inefficiencies, and trade barriers hampered business, trade, and investment between the two countries.

However, he praised the efforts of institutions like the Nigerian Investment Promotion Commission (NIPC) and the Presidential Enabling Business Environment Council (PEBEC) in enhancing Nigeria’s ease of doing business.

Chinese Investors Eye $40 Billion Investment in Key Nigerian Economic Sectors

Tegbe restated Nigeria’s commitment to the ‘One-China Principle’ during a pre-summit event for the Nigeria-China Sustainable Bilateral Business, Trade, and Investment Summits.

President Bola Ahmed Tinubu previously affirmed this stance at the FOCAC summit in September 2024, acknowledging the People’s Republic of China as the sole legal government representing the whole of China and recognizing Taiwan as an inalienable part of China.

The summit, organized by the House of Representatives Committee on Nigeria-China Relations, seeks to address challenges impeding trade and investment between the two nations through a legislative agenda for 2025.

The goal is to collaborate with the Executive branch to enact policies and laws that promote a stronger developmental relationship between Nigeria and China.

Focusing on key sectors such as agriculture, mining, solid minerals, power, renewable energy, oil and gas, construction, manufacturing, ICT, and SMEs, the summit aims to shape the future of Nigeria-China business relations.

“These areas align with the vision of President Bola Ahmed Tinubu, GCFR and that of NCSP,” he said. Tegbe further explained that China’s transformative journey offered invaluable lessons and opportunities for Nigeria to emulate and adapt to our unique context.

In 2024, China invested a record $163.1 billion abroad, demonstrating its commitment to international cooperation and growing global influence.

In 2023, bilateral trade between Nigeria and China reached $23.3 billion, making China one of Nigeria’s largest trading partners.

Despite the promising growth potential, addressing the trade imbalance remains crucial for Nigeria.

On foreign direct investments, Tegbe said: “While Nigeria has made notable progress in attracting FDI, significant opportunities remain untapped

“Strategic partnerships, such as the one we are cultivating with China, can unlock new avenues and attract much needed investment in key sectors, including infrastructure, manufacturing, agriculture, and technology.”

Chinese Investors Eye $40 Billion Investment in Key Nigerian Economic Sectors

He added: “A lot is being done to foster greater collaboration between Nigerian and Chinese businesses to promote technology transfer and knowledge sharing.

“We do not just want Chinese companies to come to Nigeria to execute projects or trade; we want Nigerians to learn from them so we can indigenously achieve some of the amazing feats we see in China.