The investments of Chinese companies in Nigeria worth over $20 billion because the country is a competitive destination for the establishment of industries.
With an estimated approximated 203.42 million population and growing at over 2% per annum, Nigeria ranks the seventh-largest country in the world. The nation represents over 70% of the effective West African market, as Nigeria remains the most competitive destination for the establishment of medium and large manufacturing industries.
China has since positioned itself to take advantage of this expansive market by unleashing its horde of investors and businessmen on the manufacturing sector, OBSERVERS TIMES report From textile to garment; household appliances, furniture, automobile; consumables and iron and steel as well as Financial Technology (FinTech) products, China has taken over, churning out tons of products for various segments of the market.
Speaking on AIT programs, Dr Kachi Ononuju said “Chinese is targeting Nigeria’s LNG. China will help you to fail and when you fail, they take those things they have been targeting” –