Chinese companies’ investments in Nigeria hit $20bn –CCCN

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The quantum of investment in the Nigerian economy by Chinese companies has hit $20bn, the President, China Chambers of Commerce in Nigeria, Mr Ye Shuijin, has disclosed.

He explained that the 160 Chinese firms operating in the country had also employed over 200,000 Nigerians, noting that the companies were promoting what he called the ‘people to people’ cultural diplomacy of the Belt and Road Initiative of the People’s Republic of China in Nigeria.

He said, “I believe the Chinese investment in Nigeria now is about $20b and we have employed over 200,000 Nigerians. Our workforce is 95 per cent Nigerians. Shuijin noted that the Chinese investors faced a difficult time during the 2015 recession, stating that many companies could not pay their workers because they were owed by the Federal Government.

 

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