Economy

Chinese Firm Pledges Commitment to Nigeria

  • Chinese Steel Firm Pledges Commitment to Nigeria

A Lagos-based Chinese steel manufacturing company, HongXing Steel Company, has expressed confidence in the ability of the Nigerian economy to overcome its present challenges.

Speaking to journalists on the sidelines of the company’s 2016 end of year get-together, the Managing Director of HongXing Steel Company, Fengzheng Ke, also assured that his firm would continue to priorities issues of staff welfare.

He called for more support for the Federal Government in the bid to diversify the economy.“Nigeria is facing some economic challenges and we are confident that the economy would overcome these challenges, that is why we are standing with Nigeria. We have been here for long and so we are attached to this country. We believe this country has enormous potential and we believe that it would overcome its challenges.

“We believe that the Nigerian government is encouraging local manufacturers to grow. Yes, manufacturing sector will play a major role in transforming Nigeria.

We want to appreciate the government and every other agency that have supported us over the years. But we are looking towards government for incentives and improved infrastructure, especially in the area of power,” he said.

Ke, stressed that the aim of HongXing Steel Company is to be one of the biggest steel manufacturing companies in Africa. Commenting on the end of year party, he said: “Since the establishment of the company, we always endeavour to carry members of our staff along. Every year, we make effort to improve the welfare of our workers.

“So, holding this end of year get-together, is to showcase the unity in the organisation. We work hard throughout the year and at the end of every year, we take out some days to unwind. We have made sure that we improve the working environment to make our staff more comfortable.”

Earlier, the General Manager, Lagos State Environmental Protection Agency (LASEPA), Shabi Adebola, who was at the event, said HongXing Steel has improved in the level of emission from the company in the past six years. He said his agency would continue to support HongXing Steel in the use of new technology, to further reduce emission.

Samed Olukoya

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

Share
Published by
Samed Olukoya

Recent Posts

Nigeria’s External Reserves Drop to $40.09 Billion Amid Currency Market Challenges

Nigeria’s external reserves declined to $40.09 billion as of January 21, 2025, according to data…

7 hours ago

GTCO and UBA Lead Activity as Market Cap Holds Steady at N63 Trillion

The Nigerian stock market closed on a mixed note on Wednesday as the All-Share Index…

8 hours ago

Nigerian-American Billionaire Ogunlesi Sees Fortune Rise by $600 Million in One Week

The net worth of Nigerian-American billionaire Adebayo Ogunlesi has surged by $600 million in a…

8 hours ago

Pounds to Naira Black Market Exchange Rate Today, 24th January 2025

The exchange rate between the British Pound (GBP) and the Nigerian Naira (NGN) in the…

15 hours ago

Dollar to Naira Black Market Exchange Rate Today, 24th January 2025

How Much is Dollar to Naira Today in Black Market? As of today, 24th January…

15 hours ago

Tolaram Group Drives Guinness Nigeria to First Profit in Six Months Post-Takeover

Guinness Nigeria Plc has reported a pre-tax profit of N20.1 billion for the second quarter…

20 hours ago