A Chinese firm delegation, under auspice of Machinery and Equipments Producers Association from Henan Province, has disclosed plan to inject$ 200 million in agriculture and mining sectors of Jigawa state, north central Nigeria, saying the invest is to drive diversification since the nation is in economic dilemma.
The leader of the delegation, Zinyong Lu, told journalists, after inspecting Maigatari Export Processing Zone in Maigatari Local Government Area in the state, that the fund would go for chemical fertilizers, agricultural equipment, and solid mineral development. He said, the firm has been in discussions with the Jigawa government for quite a long time and that he had personally visited Jigawa twice for furtherance discussion on same proposed investment.
“And more importantly is that as businessmen, we have potentials for business in Jigawa and Nigeria as a whole. We will spend between 15 million dollars and 200 million dollars, but there is guarantee and it is not a one-time affair, so it has to be step by step,” he said.
According to him, Jigawa state government is willing to boost its agriculture and the company’s intention is to invest in chemical fertilizer production, irrigation and production of agricultural equipment. The team leader also expressed his happiness with the export-processing zone in the state, describing it as a brilliant idea. He described the EPZ as an added advantage to the Chinese firms wishing to invest in the state as it is located on the Nigeria/Niger international border.
“We are here at the Tax Free Trade Zone in Maigatari Local Government Area. We have that everything is okay. It is a brilliant idea because it is close to Niger, Chad and Cameroon and in all these countries their products and goods depend on Nigeria. The tax free trade zone will bring reward, we have similar ones in China,” he noted.