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‘Chinese Investments Boost Nigerian Economy’

By on March 27, 2011

A trader has said the establishment of the China market has helped to attract Chinese investments to Nigeria.
General Manager, Ojota China Market, Mr. Julius Solomon made this remark while speaking with newsmen as part of the activities commemorating the tenth year of China Market in the country.

Solomon explained that the market, which opened shop in 2001 at the upscale Ikoyi neighbourhood, was conceived as a transit point for Chinese investors and their Nigerian counterparts to formalise their business relationship.

According to him, this had resulted in various investments into the Nigerian economy.
He added that before the coming of the market, which was relocated to the present site at Ojota, most products from China were regarded as sub-standard, pointing out that this had since changed with quality products in the market.

He said that the market was conceived as the avenue to display samples of Chinese products in Nigeria. He disclosed that the china market has helped to boost the economy of the local environment, adding that made in Nigeria products are sold in the market at good rate.

Solomon also revealed that most of the Chinese businessmen in the market not only speak English but also communicate in other local languages .He pointed out that operators of the market are having discussion with the National Open University of Nigeria (NOUN) to include Chinese language in their school curriculum to help traders and Nigerians willing to do business with Chinese to learn the language.

The market is a member of the Nigeria –China Business Council that organises trade missions to China for Nigerian entrepreneurs willing to establish relationship with Chinese investors. As part of the activities of the operators of the market for this year, there will be a trade mission to china after the election in Nigeria to assure Chinese investors about the investment opportunities in Nigeria.

Source : Thisday