FOCAC: Nigeria’s Population Draws Ruyi Group’s $200m
With a population of over 190 million people, Nigeria will surely be an investment destination for companies looking to expand their business.
This position reflected again while President Muhammadu Buhari was China for the Forum on China-Africa (FOCAC) 2-day meeting that ended on Wednesday.
Two states with very high population - Kano and Lagos - are usually the target when new businesses are coming into Nigeria.
In the south-east also, one place that gets attention is Abia State where Aba, and this is because of the exploits of young men who are into fashion design, shoe production and some other ventures.
While in China, President Buhari met with the executives of Ruyi Group, a leading Chinese company that is into technology and agriculture.
At the meeting held on Wednesday, Ruyi Group Chairman, Mr Yafu Qui shared their plan to invest $200 million on an industrial park in Kano, cotton farms in Katsina and textile and garment manufacturing establishments in Abia and Lagos.
Mr Yafu told President Buhari that they agreed to invest $200 million in Nigeria because of the country’s population, abundant human and material resources and a ‘strong leadership’ that has a desire to diversify the nation's economy.
This is one of the deals that the Nigerian government secured from Chinese companies at the FOCAC2018 that was attended by President Buhari, his wife, Aisha and some other government officials.
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