Nigeria’s Ogun State Seeks Partnership with Chinese Investors to Unlock Mineral Resources
In a bid to tap into its vast mineral resources, Ogun State Governor, Prince Dapo Abiodun, has called for a partnership with Chinese investors. The governor made the call during a courtesy visit by the Chinese Ambassador to Nigeria, Mr. Yu Dunhai, to his office in Abeokuta.
Abiodun highlighted the state’s rich natural resources, including gold, clay, bitumen, limestone, kaolin, glass sand, and granite, making it the largest contributor to Nigeria’s non-oil sector. He emphasized the need for a coordinated exploration of these resources, which would be facilitated by partnering with Chinese investors.
The governor also showcased the state’s agricultural potential, being the leading producer of cassava, eggs, poultry, and fish in Nigeria. He noted that the state’s fertile land is suitable for cultivating cocoa, rubber, and cashew, and that it is the largest producer of cement in Nigeria and the third-largest in Africa.
Abiodun acknowledged the significant contributions of Chinese investors to the global economy and expressed his administration’s commitment to creating an enabling environment for investors. He highlighted the state’s efforts to eliminate bottlenecks and establish a multimodal transport system, connecting air, rail, and road transport.
The governor also announced plans to construct a deep seaport at Olokola and to connect the blue rail lines from Lagos to the state. He invited Chinese investors to take advantage of the state’s arable land to invest in agriculture, as Ogun State aims to become the food basket of Nigeria.
Chinese Ambassador Yu Dunhai disclosed that about 160 Chinese companies have invested over $1 billion in the Ogun-Guandong Free Trade Zone, with another 100 companies expected to follow. He attributed the influx of Chinese investors to the state’s conducive business environment, good weather, and friendly people.
Dunhai emphasized the importance of Nigeria as China’s largest trading partner in Africa and highlighted the signing of a bilateral agreement between President Bola Ahmed Tinubu and his Chinese counterpart, Xi Jinping. He encouraged Chinese companies to operate within the laws of their host country and warned against illegal activities, including illegal mining.
The Chairman of the Ogun-Guandong Free Trade Zone, Hajia Hafsat Balewa, noted that the Chinese government has contributed significantly to the state’s Gross Domestic Product and the nation as a whole. The visit is seen as a reiteration of the bilateral relationship between China and Nigeria, with both countries seeking to strengthen their economic ties.
As Nigeria seeks to diversify its economy and unlock its vast mineral resources, the partnership with Chinese investors is expected to play a significant role in driving growth and development in Ogun State and the country as a whole.
