More Chinese manufacturers participating in the ongoing China Homelife Fair holding in Lagos said they are in the country to seek ways of investing in the Nigerian economy.
Over 200 of such manufacturers are in the country to participate at the fair, the figure which was about 15 percent increase to the 140 that participated last year.
However, participants at this year’s event have been advised to leverage on the meeting to explore joint ventures that would aid local production rather than importation.
The project coordinator of the Fair and Chief Executive Officer of ELAN Nigeria, Jude Chime, stated that the fair was organised to bridge the gap between Chinese manufacturers who are seeking to expand their footprints to the country and the West African region.
According to him, some manufacturers are looking at backwardly integrating production of certain electronic items in the country. “We have over 200 manufacturers representing China. The purpose is not to make sales but to meet with stakeholders in the investment sector to explore opportunities on how to create an investment hub where manufacturing activities can take place.
“One of the companies from Shenzhen that is into production of Television will be offering some Semi-Knocked Down (SKD) aspect of the television to start production in Nigeria. They will be meeting with some stakeholders to see how to exploit the project so as to bring down the production cost of television in Nigeria and in the West African region.
“The essence of the exhibition is to promote investment. China and Nigeria have always had a great level of relationship in terms of trade and I believe the exhibition will aid trade growth from the present level. Only original Chinese manufacturers are the ones being admitted for the expo”, he added.
On his part, the Chief Operating Officer of Meorient International Exhibition Co, Binu Pillai noted that this year’s fair attracted more exhibitors than that of the previous year.
Special Adviser to Enugu State Governor on Small Medium Enterprises and Investment Promotion, Anayo Agu urged participants to take advantage of the technology that can be transferred to aid local production.
“We have told the Chinese manufacturers to start some local production as the days of importation is over, even as such practice remains unsustainable.”
He noted that Nigeria is a gateway to many African countries, hence have to be positioned for local production.