Investment: Stop blaming Chinese, Onuesoke urges Nigerians

Investment: Stop blaming Chinese, Onuesoke urges Nigerians

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By Ephraim Oseji

A Peoples Democratic Party (PDP) chieftain in Delta State has urged Nigerians to stop accusing Chinese investors of taking over most of the investments in the country.

Onuesoke, in a statement made available to newsmen in Warri, Delta State, said instead of blaming the Chinese nationals or other foreign investors for taking over the economy, they should accept the blame for lacking invention, investment and rather filled with the urge to mismanage their opportunities.

He stated that the Chinese and foreign nationals most likely, do not have these big degrees that Nigerians have, but they are more willing to do any job or go into any business.

According to Onuesoke,“Give a Chinese man, who is a rice farmer, $50,000 and give him a ticket to go to Nigeria, he would become twenty million Dollar richer in less than three years. But give a Nigerian that same amount, the first thing he will think of is the best luxurious car, good home and a holiday in Dubai. He will not think of investment like the Chinese man.”

“Come to think of it. How many Nigerians are patronising locally made products like Innoson Motors? They prefer foreign products and they are blaming the Chinese. We are the cause of our own problem,” he said.

Onuesoke said Nigerians have the propensity to illegally transfer the nation’s wealth to Swiss banks, buy houses in foreign countries, acquire helicopters and private jets, rather that can build factories within their constituency that will provide jobs for their citizens, whereas the Chinese investor is thinking of how to repatriate his profit back home.

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Onuesoke disclosed that the Chinese, Indians and other expatriates have positioned themselves to take advantage of this expansive Nigerian market by unleashing its horde of investors and businessmen on the whole gamut of the economy: from the manufacturing sector, to the textile & garment; household appliances, furniture, automobile, consumables and iron and steel as well as Financial Technology (FinTech) products.

“Today, Chinese investments in Nigeria alone are worth over $20 billion and still counting. In a recent interview, the President, China Chambers of Commerce in Nigeria, Ye Shuijin, said, “The 160 Chinese firms operating in the country had also employed over 200,000 Nigerians. I believe the Chinese investment in Nigeria now is about $20billion and we have employed over 200,000 Nigerians. We should ask ourselves how many Nigerians has Nigerian firms employed?”

Rather than hate Chinese in Nigeria, Onuesoke advised that it will be better for Nigerians to find out why they are performing better than them.

“The Chinese that are building factories are not as educated as Nigerians. How come they are smarter than us? That is a question we should be asking. We should not hate Chinese, but find out what is wrong with us as Nigerians,” he maintained.

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