Investment in Nigeria, and promote common development

Investment in Nigeria, and promote common development
 
China Daily News: English, "China Daily" reported on May 8: In China, when people mention of Africa, always think of the spectacular tropical beauty of the natural landscape: the endless grasslands, lush verdant rainforest, and growth in Sri Lanka's exotic plants and animals. But when I walked in the economic center of Nigeria, Africa's second largest city on the streets of Lagos, caught my eye was all over construction sites everywhere, a steady stream of traffic and the huge and prosperous market. This city is a land full of opportunities.
In Nigeria, Chinese companies can find many business opportunities. Nigeria's 1.5 million people, ranking the first in Africa, the majority of market potential. In recent years, Nigeria's booming economy, GDP growth has exceeded 5% for three consecutive years. Nigeria has proven oil reserves have ranked tenth in the world, is the world's eighth largest oil exporter. Huge oil revenues have created a full spending power of the wealthy class and rising middle class. Each year, spending only one place to Dubai to more than one million Nigerians.
The purchasing power of Nigerians is increasing, but because the industrial base behind the majority of sales in the country remains dependent on imports of manufactured goods. Nigerian government has realized this, and efforts to attract foreign investors to invest in manufacturing.
Successful example in the manufacturing sector is one of the Dong ethnic Chinese family. Dong family of immigrants in the 1970s, Nigeria, started from the sale of enamel, and then to manufacturing, and its decoration materials plant in Nigeria is second to none. There are many gaps in Nigeria's manufacturing sector, Chinese companies can go to fill.
In infrastructure construction, the opportunities are many. Nigeria's rapid economic development of its poor infrastructure presented a huge challenge. Power failure is a common practice, so every hotel, office buildings and affluent people are self-generators. Rapid urbanization overburdened urban infrastructure so that cities, especially Lagos, severe traffic congestion, slums all over.
Challenges and create opportunities. Now, Nigeria is vigorously put into infrastructure. Lagos and Abuja, the capital looks like two big construction site. In order to better build the project, the Nigerian government to encourage Chinese companies, including foreign companies, including the contracting of infrastructure construction.
Nigeria is to explore the Chinese companies should be a big market. However, the Chinese companies to enter the Nigerian market, then, to note some of the special circumstances of the country.
Investors in order to achieve business success in Nigeria, the government must establish smooth relations. Efficiency is low because the Government to fulfill government contracts the company may have to put up with waiting and delays. If the government changes, the new government could even cancel the original contract. Therefore, companies should invest in Nigeria and the various political parties and political factions, including the ruling and opposition, have a good relationship.
Investors should also note that tribal leaders and social organizations and establish a good relationship. In Nigeria, traditional tribal leaders and religious leaders also have a lot of power. In some places, their influence is greater than even the local government. Therefore, a good relationship with them to help investment success. Meanwhile, Chinese companies should also learn and local trade unions, non-governmental organizations and the media to deal with.
If Chinese companies want to succeed in Nigeria, then enter the field of manufacturing and infrastructure, rather than simply exports, is the more sensible choice. Now, because of the fierce competition of many businessmen, Nigeria imports from China, the market is almost saturated. Chinese businessmen in Nigeria before selling anything casually offer full bowl can earn profit, and now, that good days are gone.
Now, windfall profits are setting up factories, building roads in the company. According to Nigeria's first Chinese chief of Nepal Chamber of Commerce President Hu Jieguo introduced in recent years in Nigeria, a lot of Chinese businessmen to do business without success, and investment industry to have been successful.
In addition, Chinese enterprises should be aware that the key to success in Nigeria is localized. Facts have proved that the higher degree of localization of Chinese companies, often the most successful. For example, the China Civil Engineering Construction Group Co., Ltd. since 1980 into the Nigerian market, continue to strengthen the localization, now employs more than ten thousand local staff. Turkey is now in Nigeria over the construction of the 56 projects with a total contract amount of up to 100 billion U.S. dollars.
Chinese companies must also pay attention to the quality of their products. Previously, some inferior products into the Nigerian market, which greatly damaged the reputation of Chinese products. In Nigeria, from government officials, intellectuals to ordinary people, almost every Nigerian and I have to complain about when talking quality of Chinese products. Chinese companies need to pay great efforts to provide inexpensive goods, restore the reputation of Chinese products, not able to Nigeria or other African countries as a dumping ground for low quality products. At the same time, the product can also be localized best to adapt to local consumer habits.
Many Nigerian politicians want to attract more Chinese companies to invest Nigeria. And Western companies, the Chinese companies to be more sincere hope and common development in Nigeria, a more active training for local staff, transfer of production technology. Nigeria, Mr Deputy Speaker of former Senator Ibrahim Man figure that half a century after independence, Nigeria in time, from the West, where almost no access to any transfer of advanced technology, while Chinese companies more willing to provide technology transfer to Nepal . Therefore, more to the east of Nigeria began to look for opportunities.
China and Nigeria are in the economic development of the fast lane. If the two economies to more closely together, we can promote each other for common development, mutual benefit, and set an example for the China-Africa cooperation

edited by stone coated metal roofing