Sen Ajagunla Addresses Nigeria-China Investment Forum, Canvasses Collaboration at Every Level

By Eric Elezuo

The Senator representing Osun Central District, and Vice Chairman, Senate Committee on Trade and Investment, Ajagunla Olubiyi Fadeyi, has canvassed for more collaboration between Nigeria and China at every level of diplomatic interchange.

The Senatorade the remarks while delivering a keynote address at the just concluded First China-Nigeria Trade Investment Forum, on China-Africa Cooperation (FOCAC), in Beijing, China.

He applauded the efforts of the Nigerian president, Bola Tinubu and his Renewed Hope Agenda, which he admitted is yielding results, while hailing the Legislature for working in tandem to the progress and development of the Nigerian nation.

Below is his full speech:

KEYNOTE ADDRESS DELIVERED BY DISTINGUISHED SENATOR AJAGUNLA OLUBIYI FADEYI OF OSUN CENTRAL SENATORIAL DISTRICT AT THE 1ST CHINA-NIGERIA TRADE INVESTMENT FORUM AT THE JUST CONCLUDED HIGH LEVEL FORUM ON CHINA-AFRICA COOPERATION (FOCAC) HELD IN BEIJING, CHINA

Mr President, Bola Ahmed Tinubu GCFR, Your Excellencies, Honourable Ministers, Diplomats, Top Government officials, Captains of Industry from Nigeria and China, Esteemed Delegates from the People’s Republic of China, Ladies and Gentlemen.

It is with great honour and a profound sense of purpose that I stand before you today at this prestigious China-Nigeria Trade Investment Forum. This gathering is not merely a meeting of minds; it is a celebration of the deep and enduring ties between our two great nations – a partnership that has blossomed over decades, guided by mutual respect, shared aspirations and a common vision for prosperity.

Strategic Alignment with “Renewed Hope”

At the heart of Nigeria’s future is the visionary leadership of President Bola Ahmed Tinubu, GCFR, whose “Renewed Hope” agenda is a clarion call for national and global engagement. This agenda is not just a domestic strategy; it is a blueprint that aligns seamlessly with China’s prosperity vision implemented through FOCAC and the Belt and Road Initiative.

President Tinubu’s administration is committed to economic diversification, infrastructural development and creating a conducive environment for investment. China is a vital partner in this transformative journey.

The Vital Role of the Nigerian Senate

In realising this vision, Nigerian Senate, under the leadership of the Senate President, Senator Godswill Akpabio CON, plays a key role in the Nation’s economic growth by passing enabling laws and oversight function of all Nigerian Ministries and parastatals .

The Senate as a legislative body; is the engine that drives the policies and necessary reforms for economic growth by enacting laws that facilitate foreign direct investment, streamline business processes and eliminate unnecessary bureaucratic hurdles. The Senate ensures that Nigeria remains an attractive destination for global investors.

One landmark piece of legislation in this regard is the Companies and Allied Matters Act (CAMA) of 2020. This Act, a product of extensive collaboration between the Senate, the private sector and international partners, has modernized corporate governance in Nigeria, making it easier and faster to register a business, improving transparency and enhancing investor confidence.

Strengthening Bilateral and Multilateral Partnerships

Senate Standing Committees play a critcal role in shaping our country’s international economic growth. Through our work on bilateral and multilateral relations, we ensure that Nigeria remains an attractive destination for foreign capital while safeguarding our national interests.

Our partnerships with international organizations such as the World Trade Organization (WTO), the African Continental Free Trade Area (AfCFTA), and the Economic Community of West African States (ECOWAS) are essential in ensuring that Nigeria’s trade policies are in line with global standards. The Senate’s oversight function ensures that these agreements are implemented effectively, benefiting all stakeholders involved.

Enhancing Investor Confidence through Stability and Transparency

Investment thrives in environments where the rule of law is respected, where policies are predictable and where governance is transparent. The Nigerian Senate has been at the forefront of initiatives to enhance the transparency and accountability of our government institutions.

A Call to Action for a Shared Future

Ladies and Gentlemen, as we look to the future, let us be guided by the knowledge that the partnership between Nigeria and China is not a transient alliance, but a strategic and enduring relationship built on a solid foundation of trust and shared goals. Our journey together is far from over; in fact, it is just beginning.

Mr President, Your Excellencies, esteemed partners and honoured guests, as we stand on the cusp of a new chapter in the Nigeria-China relationship, it is clear that the future we envision requires collaboration at every level.

The Senate is committed to working with the Executive, the private sector, and our international partners to establish and supervise the implementation of laws, regulations, and policies necessary to propel our mutual economic aspirations. Let us move forward with purpose and unity, confident that through our collective efforts, we will secure a legacy of growth, innovation, and shared prosperity for generations to come.

Thank you.

Distinguished Senator Olubiyi Fadeyi is the Vice-Chairman, Senate Committee on Communications, Trade and Investment.