ABUJA: The Nigeria-China Business Council says that some Chinese investors are engaged in the manufacture of prepaid electricity meters in Nigeria.The National Coordinator/Chief Executive Officer of the Nigeria-China Business Council (NCBC), Mr. Matthew Onwekwe, told journalists in Abuja that the council was intensifying its efforts at increasing foreign investments into Nigeria.
“We have invited a lot of investors from China who are here today. We have brought in another investment through the prepaid meter.
“The NCBC has met and discussed with the Nigerian Electricity Regulatory Commission and the Ministry of Power and agreed that we must intensify our efforts to bring in investments into that sector by getting people to establish factories where prepaid meters will be manufactured,” Onwekwe said.
He disclosed that Nigeria’s trade relation with China has peaked at $13 billion this year, up from $2.7bn in 2009.
Onwekwe said that the increase in the volume of trade between the two countries in six years represented an increase of $10.3bn or 381 percent.
He explained that in 2009 when the council was set up under the Ministry of Industry, Trade and Investment, the level of trade between the two countries was $2.7bn in favour of China and about $700m in favour of Nigeria.
