About 18 Chinese investors under the aegis of African Investment Network have called on the Federal Government to improve power supply in the country as a way of attracting more investment from China.
This request was made through the Minister of State for Industry, Trade and Investment, Dr. Sam Ortom, who recently led a trade delegation to China where the Memorandum of Understanding on transfer of technical skills on manufacturing was signed between both countries.
A statement on Wednesday said while the minister appealed to the Chinese investors to make Nigeria their number one investment destination in Africa, they urged the Nigerian government to improve power supply.
Though the 18 Chinese companies had indicated interest to visit and establish manufacturing-based offices in Nigeria, poor power supply, they said, could be a major setback if not promptly addressed.
The Director, African Investment Network, Mr. William Wang, in his welcome address, said, China and Nigeria trade relations had been cordial, adding that Nigeria remained China’s biggest trading partner in Africa.
According to him, his organisation is a bridge linking Nigeria and Chinese businessmen, stressing that the visit of Nigeria’s business delegation to China will open a floodgate of Chinese investments to Nigeria.
He, however, called on the Federal Government to provide an enabling environment for business to thrive especially in the area of power sector.
He said, “This visit will strengthen the China-Nigeria trade relations and also attract more Chinese investors to Nigeria but you people must improve on power supply because no business thrives in an environment where power is not steady.”
The Minister of State for Trade and Investment, Ortom, in his response, said there was greater opportunities for investment in power generation, transmission and distribution and that the entire country was going through transformational changes to accommodate all shades of investors.
He assured the Chinese investors that President Goodluck Jonathan was on top of the power situation in Nigeria ,adding that the current administration was ready to deliver on its promises in the power sector.
On the current security challenges confronting the country, Ortom told the foreign investors that President Jonathan was on top of the situation while assuring them that the problems would not affect their investment .
He further assured the Chinese investors of 100 per cent ownership of their investment in Nigeria, adding that a new law has been drafted to that effect.
Also at the meeting was Nigeria’s business mogul in China and Chairman of Blue Diamond Logistic, Mr. Festus Mbisiogu, who commended the minister for his efforts in bringing foreign investors into Nigeria, but, however, urged that power supply be improved to boost the entire business community in Nigeria.
He called on Jonathan to significantly improve on power supply and also keep on his promise of providing steady power supply to Nigerians by 2014.
Highlights of the event were a visit of the delegation to one of the Chinese industrial parks led by the Deputy Mayor of Sonshui Municipal Government in Foshan, Guangzhou province, an industrial city harbouring Songshui economic development zone.