Business
Council Urges Stronger Biz Partnership With China
Nigeria –China Business Council has called on the Federal Government to strengthen its business partnership with china, in order to improve the economy of the country and checkmate the influx of sub-standard goods from the far East Asian country.
Speaking to journalists at the Presidential Lounge of Martala Muhammed Airport, recently in Lagos, the Chief Executive Officer and coordinator of the Council, Mr. Matthew Uwaigwe, noted that efforts are on-going to control manufacturing of sub-standard foods.
Mr. Uwaigwe pointed out the need for match making of both economies potentials, adding that partnership with China could get Nigeria’s economy out of the woods.
He explained that the council was established to ensure that goods are produced according to Nigeria standard, but lamented that many Nigeria businessmen usually request for low grade products from China and get the goods shipped into the country through unlawful ways.
According to him, some of the problems are caused by Nigerians businessmen and there is need therefore, to alert agencies of the gateways on the quality of goods coming into the country.
“There have been business, political and bilateral relationship between the two countries and because of the realisation that the relationship has been one sided”, he said.
However, he called for balance trade with the two countries, stressing that China is currently the third biggest economy in the world.
The co-ordinator noted that the business activities from Nigeria and China have been cordial and hope that the relationship would attract investors into Nigeria to improve the economy.
He pointed out that there is no country in the world that is currently not benefiting from Chinese economy.
“We made China Council of International Trade and Investment in Beijing Guasue Chiam and move them 10 companies from China are interested in our independent power power projects. Here also investors who are interested in investing agriculture and other areas for the development of Nigeria economy”, he concluded.
“Payment of tuition fees for undergraduate/postgraduate studies shall be subject to a maximum limit of $25,000.00 per semester,” the Manual states.
The expansion of international card limits also reflects growing confidence among lenders that foreign exchange liquidity has improved enough to support retail dollar transactions.
Speaking recently at the BusinessDay 14th Annual CEO Forum in Lagos, CBN Olayemi Cardoso, governor of the CBN said buying and selling activities now increasingly determine outcomes in the foreign exchange market, unlike in the past when market participants relied heavily on routine Central Bank interventions.
According to Cardoso, Nigeria’s net foreign exchange reserves have risen from just over $3 billion at the start of the reform programme to more than $40 billion, while gross reserves have climbed to about $52 billion, providing stronger confidence for investors and enabling the Central Bank to reserve interventions for periods of market stress rather than day-to-day liquidity management.
The restoration and expansion of international naira card spending limits are increasingly being seen as one of the clearest signs that the benefits of the CBN’s foreign exchange reforms are beginning to reach households, students and businesses making legitimate cross-border payments.
The Secretary-General and Chief Executive Officer, WEC, Dr Angela Wilkinson, disclosed this in a statement, last Thursday.
“Nigeria’s participation comes at a pivotal time as the country seeks to expand energy access, strengthen energy security, accelerate gas development and mobilise the capital required for industrialisation and sustainable economic growth.
“WEC Nigeria will convene leaders from across the energy ecosystem, apply the WEC’s globally recognised Energy Trilemma framework to Nigeria’s unique context, and promote evidence-based dialogue, practical collaboration and informed policymaking.
“It will also ensure that Nigerian and broader African perspectives contribute meaningfully to global energy conversations,” she said.
Wilkinson expressed confidence that Nigeria would play a significant leadership role at the World Energy Congress scheduled for Riyadh in April 2027 and beyond.
The statement also quoted the Chairman of WEC Nigeria, Isa, as describing the country’s participation as an opportunity to deepen national and African leadership within the global energy community through practical solutions tailored to regional development priorities.
He said the platform would promote collaboration across sectors and attract sustainable investments into Nigeria’s energy sector.
The Chief Executive Officer of WEC Nigeria, Wunti, was quoted in the statement as saying that the council would connect leadership, evidence and investment to build a secure, affordable and sustainable energy system.
“This system will be capable of driving economic growth and shared prosperity.”
According to him, the platform will also connect Nigerian institutions and businesses with international knowledge, technology, partnerships and investment opportunities through the World Energy Council’s global network.
Recall that WEC, founded in 1923, is the world’s oldest independent and impartial community of energy leaders and practitioners, advancing informed, collaborative and practical action across the global energy system.