President Bola Tinubu assured Chinese investors that Nigeria is a secure destination for investments and promised his government’s full support for business success in the country.
During a meeting with a delegation led by Mr. Dai Hegen, Chairman of China Railway Construction Corporation (CRCC), at the State House on Friday, Tinubu reassured Chinese business leaders that their investments in Nigeria are protected.
He emphasized his administration’s commitment to enhancing the business climate and broadening ties with CRCC.
“I have listened to you carefully. Your operation is consistent with our objectives. We are reforming the economy and taking crucial actions to ensure accelerated growth.
“The CRCC, with its subsidiary, CCECC, is a leading company and one of the best partners to work with. I am happy that you are partnering with Nigeria in many areas, particularly rail construction.
“We will do everything required to ensure that the rail link between the Ibadan end of the Lagos-Ibadan railway and the Federal Capital Territory is completed. We must connect the hinterland with our coastal seaports.
“I am proud of what I started as Governor of Lagos State with the Lekki Free Trade Zone.
”It is now a flourishing environment. It is important to give you the assurance that we will do well to strengthen our partnership and relations” Tinubu said.
CRCC Chairman Hegen outlined the corporation’s ongoing and completed projects:
“In the railway construction sector, the Kano-Kaduna Railway is 39% completed and is on course for completion in the second quarter of 2026.
”The Abuja-Kaduna Railway and Lagos-Ibadan Railway have carried approximately 9 million passengers since they were completed and commissioned.
“Freight services have officially commenced along the Lagos-Ibadan axis since September 2023, and a total 180,000 tons of cargo have been transported,”
Hegen revealed that CRCC has signed investment cooperation agreements with 119 companies, generating $3 billion in investments, creating 4,000 direct jobs for Nigerians, and paying $125 million in taxes. He also extended an invitation from the Chinese government for Tinubu to attend the Forum on China-Africa Cooperation (FOCAC) to further deepen mutual cooperation.
“With the support of Your Excellency, we plan to increase our investments in key areas, such as agriculture, power, solid minerals, natural gas, and renewable energy technologies to promote the economic development of the country,” Hegen added.
