Nigeria has partnered with China in opening a way for small and medium sized businesses to interact through an exchange program.
According to the country’s statistics bureau, there are more Chinese construction companies operating in Nigeria, than anywhere else in Africa.
And expansion is expected in other sectors too. But some experts argue Africa’s most populous country must do more to protect its local industries.
CGTN’s Sophia Adengo filed this report from Abuja.
With every brush stroke, Muhammad Sulaiman gets closer to his goal to showcase his works at an upcoming art exhibition in China early next year.
Sulaiman hopes his paintings seen in the country’s capital Abuja, will find a home with a Chinese buyer.
“China has grown into buying art. The most expensive art piece four years ago sold for hundreds of millions. So if you look at that, you see the new art market or haven is in China.” He said.
Sulaiman will join five other Nigerian artists in participating in a bilateral exchange program set up between Nigeria and the Chinese government aimed at fostering business to business links.
According to recent figures, trade between China and Nigeria has soared from $3 billion in 1995 to $9 billion last year.
Experts advise local business owners to consider a business strategy before entering the China market.
And representation in China by a Chinese partner can be beneficial in providing essential local knowledge and contacts, often critical to elements of success.
And that’s the purpose of platforms like this where Nigerian business owners looking for opportunities in China are introduced.
Critics fear affordable goods and services from China, may edge out Nigerian enterprises.
However, some Nigerians say doing business with China will likely span a number of sectors and yield positive results.
“The experience was quite good it helped me develop in the sector of healthcare in management diagnostics, research clinical trials and so much more- I think the experience was worth it being in China.” A participant, Dr. Samuel Nnamai said.
China forecasts investments in refineries, oil power plants and agriculture. And while Chinese companies are looking to Nigeria for markets, so too are the Nigerians looking to China.
