Chinese firm to invest $100m in Nigeria, others

  • Posted on: 12 March 2018
  • By: editor

By Ummi Ismaeel, Minna


A Chinese multinational Company, Longrich International, will invest over  $100 million in Nigeria and other African countries to boost the continent's economy in the next three years.

  The General Managing Director, Longrich International, Africa, Mr. Alex Jia, disclosed this in Minna, the Niger State capital, at the Longrich Minna Mega Business Summit.

 He disclosed that the company has so far invested over $30 million in the Nigerian economy.

 His words: "We will in the next three years invest $100 million to cover the whole of African continent. We have already invested $30 millon in Nigeria with the construction of Africa's Research and Development Institute‎ in Lagos.

“We know many Nigerians love Longrich products and the company is very popular in Africa and Nigeria in particular because of the effectiveness of our range of products and we have plans to release more products”.

Despite recession, Alex said that Nigeria's population and the proactive measures taken by the federal government things have normalized for a better business flow.

 “We have already brought in all the technology support to boost the Nigerian market,” he said.

 Meanwhile, Niger State government has assured of willingness to support investors willing to take advantage of favourable economic policies of the Governor Abubakar Sani Bello-led government to invest in the state.

  Bello, represented by the Executive Secretary, Niger State One Stop Investment Centre, Hamza Bello, said at the Longrich Minna Mega Business Summit that arrangements were on to make land available to any individual and corporate bodies willing to support in boosting the state economy.

Assuring that the state will partner with Longrich to empower women and youths, Governor Bello said, “For Longrich to bring its Research and Development Institute to Nigeria shows that they are a viable company and we are ready to give them land to build a warehouse where products can be stored for supplies to the north central states.

"We also appreciate Longrich International for choosing Niger state to have its North-central warehouse, which will not only create employment for our youths and women but the company’s products will help in improving their health.

  One of the policies of Nigerian government, Governor Bello explained, was to attract foreign direct investment and to strengthen investments. Youth and women empowerment in Niger State is a welcome development”.