President Buhari has said that trade and economic relations between Nigeria and China must be mutually beneficial and conducted with respect and trust.
He further stated that China and Nigeria will effectively partner in working on power projects.
The president said that his administration was committed to supporting investors that were ready to establish manufacturing and processing facilities in Nigeria.
“Last year, during our meeting in New York, President Xi Jinping and I agreed to explore ways of practical cooperation in trade, investment, finance, human resources, agriculture and fishing.
“We also agreed to strengthen industrial capacity cooperation in the manufacture of cars, household appliances, construction materials, textiles, food processing and others.
“This is in line with our government’s focus on import substitution through the creation of a diversified and inclusive economy that will meet most of our consumption needs.’’
The president said that the Federal Ministry of Industry, Trade and Investment was working on projects and programmes that would correct the wrongs of the past and enhance the ease of doing business in Nigeria.
He said that the ministry’s efforts would be complemented by investment tax incentive programmes, public sector reform initiatives as well as zero tolerance on corruption.
President Buhari said that his administration had embarked on an aggressive, but realistic infrastructure development programme that formed the backbone of the economic diversification policy of the government.
“We are embarking on major power, road, rail, seaport and airport development programmes that will enhance the competitiveness of manufacturing businesses in Nigeria.
“The future is bright and I am very confident that our policies will make Nigeria the investment destination of your choice,’’ President Buhari told the Chinese investors.
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