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Mutfwang Hosts Chinese Ambassador, Investors to Boost Plateau Economy

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The Plateau State Government has intensified its strategic partnership with China as part of efforts to attract foreign investment, transform agriculture, and accelerate infrastructure development, positioning the state as a competitive destination for business and industrial growth.

Governor Caleb Manasseh Mutfwang disclosed this on Monday while receiving the Ambassador of the People’s Republic of China to Nigeria, Yu Dunhai, alongside a delegation of Chinese investors and business executives at the Government House in Jos.

The visit is part of the state’s broader strategy to strengthen international partnerships and attract foreign direct investment into critical sectors such as agriculture, mining, healthcare, tourism, infrastructure, and industrial development.

Speaking during the meeting, Governor Mutfwang described the relationship between Plateau State and China as one that has steadily evolved over the years, stressing the importance of expanding cooperation beyond national engagements through direct partnerships with Chinese provinces.

He said his administration is committed to leveraging investment, technology transfer, innovation, and knowledge exchange to unlock the state’s vast economic potential.

Agriculture at the Centre of Partnership

Governor Mutfwang identified agriculture as a key area for collaboration, noting that Plateau State has long been recognized as Nigeria’s food basket and a historic mining hub.

He explained that the government is pursuing an ambitious agricultural modernization agenda focused on mechanization, increased productivity, cold-chain infrastructure, livestock development, and agro-processing.

As part of the initiative, the governor unveiled plans for a 500-hectare Special Agro-Processing Zone near the Yakubu Gowon International Cargo Airport, designed to serve as a major export hub for agricultural products while improving value addition for farmers and agribusinesses.

He also highlighted investment opportunities in poultry, dairy farming, fisheries, and animal feed production, emphasizing the need to reduce Nigeria’s dependence on imported dairy products by building a competitive local livestock industry.

Sustainable Mining and Industrial Growth

On mining, Governor Mutfwang advocated responsible and environmentally sustainable practices that promote local value addition and community development.

He also called for closer collaboration with Chinese authorities in tackling illegal mining activities and ensuring that mineral resources contribute meaningfully to the state’s economic development.

China Reaffirms Commitment

In his remarks, Ambassador Yu described Plateau State as a strategic investment destination due to its abundant natural resources, favorable climate, and enormous agricultural potential.

He commended Governor Mutfwang’s leadership and ongoing reforms in infrastructure, agriculture, education, and governance, assuring the state of continued support from both the Chinese Government and the Chinese Embassy in Nigeria.

The ambassador disclosed that the visiting delegation comprised executives from four internationally recognized Chinese companies with extensive operational experience in Nigeria, expressing confidence that the engagement would unlock new opportunities in transportation, infrastructure, agriculture, and industrial development.

New Export Opportunities

Ambassador Yu highlighted the growing economic ties between China and Nigeria, revealing that bilateral trade between the two countries is valued at several billions of dollars annually, while Chinese direct investment in Nigeria reached approximately $700 million in the previous year.

He also announced that China’s recently introduced 100 percent zero-tariff policy on Nigerian exports presents a significant opportunity for Plateau State’s agricultural products to gain access to one of the world’s largest consumer markets.

Drawing from China’s development experience, Yu noted that agricultural reforms had lifted more than 800 million people out of poverty, pledging China’s support in improving agricultural productivity, expanding processing capacity, strengthening livestock production, and developing agricultural value chains in Plateau State.

Addressing concerns over illegal mining, the ambassador reiterated China’s zero-tolerance policy against unlawful mining activities and assured the state government of cooperation in identifying and prosecuting offenders while encouraging legitimate investors to comply with established regulations.

Both leaders expressed optimism that the renewed engagement would usher in a new era of mutually beneficial cooperation, delivering increased investment, job creation, economic growth, and sustainable development for Plateau State.

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Climate tech overtakes fintech as Africa’s top venture funding sector

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Climate tech, the field of technologies and solutions that are increasingly adapted to tackle the climate crisis, has emerged as Africa’s top venture funding sector, confining fintech, which has dominated the scene for years, to the back seat.

The sector accounted for less than a quarter of the aggregate venture capital that flowed into Africa in the nine years to 2025, according to a report released Tuesday by London-based research house Briter.

Climate tech’s role in venture funding became particularly pronounced in 2025, when it alone contributed 40 per cent, or $1.5 billion, compared with other years in the near-decade period under review, the study said. That was up from 13 per cent or $206 million in 2016.

“This growth has been accompanied by a rapid expansion in the number of funded companies and deals,” the report titled “The State of ClimateTech in Africa 2.0: Moving Beyond the Headline Numbers,” stated.

“Between 2016 and 2025, ClimateTech companies raised approximately $6.35 billion across 779 companies,” the research, conducted by Briter, conducted along with Catalyst Fund, BFA Global, FSD Africa and Africa: The Big Deal, added.

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Nigeria’s growing profile

The report indicated that Nigeria, Africa’s largest nation by population, is quietly building a reputation as a climate-solution powerhouse, second only to Kenya. It attracted 12.9 per cent of the continent’s total investment between 2019 and 2025.

That said, Kenya, which tops the group of the three largest markets, which also includes South Africa, took more than half of the pool. It implies Nigeria needs to cover a vast swathe of ground within the ecosystem in the years ahead to stand a chance of leading Africa.

The country remains the fintech capital of Africa for years, with fintech revenue currently standing above $14 billion at a compounded annual growth rate of 31.4 per cent. The prestige has ridden a prolonged payments-led boom that has produced unicorns like Flutterwave, OPay and Moniepoint, with valuations above $1 billion.

Nevertheless, the report’s emphasis on climate tech as the newest sweetheart of offshore investors means that sector may end up as the leader of the broader tech industry in a matter of years, provided the current funding tempo doesn’t slow.

READ ALSO: Group urges FG to scale up clean cooking to achieve climate targets

It highlighted areas such as logistics, farmer-to-market links, and post-harvest loss reduction as bright spots where Nigeria can leverage its potential in climate tech.

A case in point is Lagos-based Winich Farms and a generation of new platforms, which it said have drawn inspiration from Twiga Foods, a mobile-enabled B2B supply platform operating from Kenya.

Winich and those others, the research said, are forging ahead where Twiga faced difficulties in its early days, as they are now incorporating market access, embedded finance and logistics, helping them avert costs that otherwise could have gone into building physical infrastructure. Walking that path has also cleared the hurdle for Winich Farm and the rest to link farmers up with off-takers, “rather than assuming demand will follow supply,” it noted.

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Universal Insurance Reaffirms Reliability with ₦1.35bn Q2 Claims Payout

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Universal Insurance Plc, Nigeria’s top underwriter, said it has paid a total of ₦1.35billion in claims during the second quarter of 2026.

This milestone according to the company highlights its ongoing commitment to customer satisfaction and the prompt settlement of genuine claims across its diverse business lines.

Tge company noted that theu claims were paid across key portfolios, including Agriculture, Aviation, Bond, Engineering, Fire, General Accident, Marine, Motor, Oil & Gas, and Special Risk insurance, demonstrating the company’s capacity to support its policyholders when they need it most.

Speaking on the performance, the Managing Director and Chief Executive Officer of Universal Insurance Plc, Dr. Jeff Duru, noted that the impressive claims payout reflects the company’s financial strength, operational efficiency, and customer-centric philosophy.

“At Universal Insurance Plc, our customers remain at the heart of everything we do. Insurance is built on trust, and nothing demonstrates that trust more than our ability to honour genuine claims promptly. The payment of over ₦1.35 billion in claims within the second quarter of year 2026 is a clear testament to our unwavering commitment to standing by our policyholders in their moments of need.”

He emphasized that prompt claims settlement remains a core strategic priority for the company as it seeks to strengthen trust in the insurance industry and deliver exceptional service to individuals, businesses, and corporate organizations.

The insurer added that every genuine claim is processed with professionalism, transparency, and urgency to ensure minimal disruption to the businesses and daily lives of its clients.

As it deepens its market presence, Universal Insurance Plc plans to continue developing innovative products, leveraging technology for faster service delivery, and maintaining high standards of corporate governance to protect the lives, businesses, and investments of its clients.

The post Universal Insurance Reaffirms Reliability with ₦1.35bn Q2 Claims Payout appeared first on Business Today NG.

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