Business
China’s Investment In Nigeria Hits $7.24bn
Mr Guo Kun, the Consul General, Consulate of the Peoples Republic of China, says China has invested 7.24 billion dollars (more than NI trillion) in Nigeria.
Kun told newsmen on Friday in Lagos that some of the investments went into the Lekki Free Trade Zone.
Besides, he said that the investment had helped to create more than 30, 000 jobs for Nigerians. Reports say that Lekki Free Trade Zone is a Lagos State project.
According to him, the Chinese government provides subsidy, preferential policies in tax and subsidised interest to Chinese companies to encourage them to invest in Nigeria.
“Until now, China has already invested 7.24 billion dollars and created more than 30,000 jobs for Nigerians.
“Among them is the Lekki Fee Trade Zone. If this project becomes successful, Nigeria’s capability of manufacturing various products will be largely enhanced,” Kun said.
The Consul General said that the government had provided policy support to encourage Chinese investors to invest in the Lekki Free Trade zone.
He said that both sides realised that the free trade zone was an important project and would do all within their powers to make it a reality.
Kun said that the issue of Chinese substandard products in Nigerian markets was a complicated one that needed to be resolved by both governments and Nigerian importers.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
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