President Bola Tinubu has assured Chinese investors that Nigeria is a secure and favorable destination for investments, promising robust support from his government to ensure business success. This commitment was made during a meeting with a delegation led by Mr. Dai Hegen, Chairman of China Railway Construction Corporation (CRCC), at the State House on Friday.
President Tinubu reassured the delegation of Chinese business leaders that their investments in Nigeria would be well protected and that his administration is committed to enhancing the country’s business climate. He expressed eagerness to expand business ties with CRCC and 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 you are partnering with Nigeria in many areas, particularly rail construction,” Tinubu stated.
Infrastructure Commitment
Tinubu emphasized the importance of completing the rail link between the Ibadan end of the Lagos-Ibadan railway and the Federal Capital Territory. “We must connect the hinterland with our coastal seaports,” he said, highlighting the significance of improving transportation infrastructure for economic growth.
He also mentioned his pride in initiating the Lekki Free Trade Zone as Governor of Lagos State and noted its current success as a thriving business environment. “It is important to assure you that we will do well to strengthen our partnership and relations,” Tinubu added.
CRCC’s Progress and Future Plans
CRCC Chairman, Mr. Dai Hegen, provided updates on the corporation’s ongoing and completed projects in Nigeria. He reported that the Kano-Kaduna Railway is 39% complete and scheduled for completion in the second quarter of 2026. The Abuja-Kaduna Railway and Lagos-Ibadan Railway have transported approximately 9 million passengers since their completion and commissioning.
Freight services along the Lagos-Ibadan axis commenced in September 2023, transporting 180,000 tons of cargo. Hegen also highlighted the economic impact of CRCC’s operations, including signing investment cooperation agreements with 119 companies, stimulating $3 billion in investments, creating 4,000 direct jobs for Nigerians, and paying $125 million in taxes.
Future Investments and Cooperation
Hegen invited President Tinubu to attend the Forum on China-Africa Cooperation (FOCAC) to deepen bilateral cooperation further. To promote Nigeria’s economic development, he outlined CRCC’s plans to increase investments in key areas such as agriculture, power, solid minerals, natural gas, and renewable energy technologies.
“With the support of Your Excellency, we plan to increase our investments in key areas to promote the country’s economic development,” Hegen added.
