President Bola Tinubu says Nigeria is a secure destination for investments, promising that his government will provide the necessary support for business success within the country.
Tinubu made this commitment during a meeting with a delegation headed by Mr Dai Hegen, the Chairman of China Railway Construction Corporation (CRCC), at the State House on Friday.
He reassured the delegation of Chinese business leaders that their investments in Nigeria are protected and that his administration will further enhance the business climate.
The president expressed his government’s eagerness to broaden business ties with the company and to improve essential infrastructure and facilities.
“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.
More Insights
In his remarks, the Chairman of the CRCC, Hegen, highlighted some of the projects in the works and those completed by the corporation.
“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,” he said.
Hegen also said the corporation has signed investment cooperation agreements with 119 companies, stimulating investments of $3 billion and creating 4,000 direct jobs for Nigerians, as well as paying $125 million in taxes.
He extended the Invitation of the Chinese government to Tinubu to attend the Forum on China-Africa Cooperation (FOCAC) to further deepen cooperation along mutual areas of interest.
“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,” the CRCC chairman added.
