Shell Energy Entrepreneurs banner Yudala banner
Jonathan clears way for more Chinese investment in Nigeria •Elumelu calls on private sector to lead China-Africa engagement

By News Express on 12/07/2013

Share on facebook Yahoo mail icon Gmail icon

Views: 5,000


LAGOS, Nigeria, July 11, 2013/African Press Organization (APO)/ African business leader and philanthropist Tony O. Elumelu joins President Goodluck Jonathan as part of a high powered delegation accompanying the Nigerian leader on a state visit to China from 11 to 12 July 2013.

The visit, which will include a meeting with China’s President Xi Jinping, will have Mr Elumelu and other business leaders, including Folorunso Alakija, Femi Otedola and Oba Otudeko, representing Nigeria’s business interests, thus emphasising President Jonathan’s commitment to leveraging the private sector to drive both development and trade and investment links between China and Africa.

Speaking at the investment forum, which attracted over 700 potential investors, their Nigerian counterparts and several governors as well as the Ministers for Trade and Investment, Aviation and Power, President Jonathan said:

“Nigeria today is like China 20 years ago – it is entering into a high growth phase. The economy is suitable for private sector involvement; we offer the best incentives and we have put the right structures in place to reduce the cost of entry into Nigeria. All of this is to encourage private sector participation in Nigeria.”

Elumelu, Chairman of Heirs Holdings, the pan-African proprietary investment company, commented further: “The China-Africa relationship has historically been characterised by government-to-government engagement. However, Nigeria’s leadership – and increasingly that of a number of African countries – is embracing an Africapitalist approach where the private sector is leading transformative growth. China’s presence in Africa is important, but we would like that involvement to be more inclusive of the private sector to ensure a sustainable development path for the continent.”

Elumelu’s call comes on the back of the Chinese government’s drive to minimize its role in its own economy and reform state owned enterprises (SOE), which are still dominant. However, private sector companies are increasingly contributing to China’s overall GDP growth and the Chinese government is creating policies that will allow them to flourish.

“Globally, there is powerful evidence that the private sector is critical in driving a country’s economic growth and China is recognising that locally,” said Elumelu. “We hope President Jonathan’s state visit will mark the start of a private sector-driven approach to China-Africa bilateral relations. The onus is now on us as African business leaders to ensure that future engagements will call for, and unlock opportunities for the private sector.”

According to the OECD, trade between China and Nigeria reached nearly US$18 billion in 2010, almost ten times more than just a decade ago.

During the visit, Mr Elumelu met with leading Chinese investors and business people to raise awareness of the numerous strategic projects under development in Nigeria and the opportunities for investment that they present.

Photo courtesy State House, Abuja, shows part of the Nigerian delegation with Chinese officials.

Source News Express

Posted 12/07/2013 1:01:28 PM

 

Share on facebook Yahoo mail icon Gmail icon


 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

 

You may also like...
Experts say commercial viability should determine establishment of...

2 million Nigerian embrace UNICEF’s social media platform...

Ikpeazu dares INEC, says ‘I remain Abia Governor’...

Gunmen abduct lawmaker’s 68-year-old mother and adopted son...

Man kills mother over disappearance charm

Ikot Abasi, Mkpat Enin, Eastern Obolo get coconut...

My tears for Nigeria, By Pastor Lovina Iburene...

Arik unfolds plan to increase fleet to 52...

Nigeria, Angola move to boost global oil price...

NIMASA shuts 3 jetties, port facilities

Shell confirms oil leak at Kolo Creek fields...

Thugs invade Edo Assembly as lawmakers impeach Speaker...

 

Latest News 12 killed, 48 wounded in Maiduguri suicide bomb attack 6 killed in fresh Benue attacks American, Canadian kidnapped in Kaduna, 2 police escorts killed Wicked grandma burns 9-year-old granddaughter’s hands for eating brother’s food Fake healer held over fake pregnancies School children donate household items to troops fighting insurgency in North-East Seek justice and reparation for victims of attacks by herdsmen, SERAP tells Buhari UK Prime Minister creates Minister for Loneliness Bauchi Fertiliser Company set to take over northern market Ohanaeze President General dismisses accident rumour Militancy: Bayelsa professionals seek investigation of Sylva, Lokpobiri Umeh unfolds agenda as Senator for Anambra Central

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (314,541 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (303,693 views) Shameless Genevieve Nnaji exposes breasts in public (243,827 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (200,941 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (189,672 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (178,922 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (155,203 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (139,151 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (135,838 views) Lagos plane crash: Journalist releases victims’ names (124,166 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (121,304 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (118,695 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (33) Business (2,850) Business Verdict (32) Columnists (790) Complaints & Requests (94) Enterprise & Opportunities (200) Entertainment (431) Features (541) Global Business Monitor (222) International (1,743) Interviews (139) Live Commentary (28) Love Matters (100) News (31,951) Opinion (864) Pidgin (10) Politics (4,351) Religion (666) Sports (1,405) Stock Watch (25) AMA & Al Jazeera Global Update

 

CBN Banner advert

CBN Words on marble

 

 

Thierry Henry in Lagos Nigeria

 

APO Group Partner

 

CLASSIFIED ADS

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement



 

 

CLASSIFIED ADS

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!