Nigeria Is Not Your Dustbin, PMB Tells Chinese Investors

President Muhammadu Buhari in Beijing yesterday told investors in China not to turn Nigeria into a dumping ground for sub-standard goods.


President Buhari appealed to the Chinese investors to consider sitting industries in Nigeria instead of seeing the country as a market for sub-standard goods.

He also called on the Nigerian and Chinese business communities to work harder to reduce the trade deficit between both countries which is currently in China’s favour.

President Buhari spoke at the opening of a Nigeria-China business/investment forum.
Buhari said that trade and economic relations between both countries must be mutually-beneficial and conducted with reciprocated respect and trust.

“Although the Nigerian and Chinese business communities have recorded tremendous successes in bilateral trade, there is a large trade imbalance in favour of China as Chinese exports represent some 80 per cent of the total bilateral trade volumes.

This gap needs to be reduced. “Therefore, I would like to challenge the business communities in both countries to work together to reduce the trade imbalance.

The President also assured them that his administration was doing everything possible to address concerns about security in Nigeria, stating that to consolidate on recent successes against Boko Haram, close to 20 per cent of the 2016-budgetted expenditure has been allocated to the Ministries of Defence and Interior and as well as other security agencies.