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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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LIVE UPDATE: TenTrade brings financial market experts together to nurture next generation of traders

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TenTrade has brought financial market experts and industry stakeholders together in Lagos to discuss ways of developing the next generation of traders and strengthening participation in the financial markets.

TenTrade is a financial services company that operates as an online, multi-asset trading broker, providing a platform through which clients can access financial markets.

The event themed, “One Community, One Future: Building the Next Generation of Traders,” holds in Ikeja, Lagos on Saturday.

Stakeholders at the TenTrade's event on building future generations of trade, "One Community, One Future," in Ikeja, Lagos, on Saturday.

The event, featuring former football star Luis Figo as TenTrade’s global brand ambassador, is expected to provide a platform for discussions on financial market education, trading opportunities and the future of the trading industry in Africa.

Speakers scheduled to address participants include Wilfred Obasi, Regional Director, Africa, TenTrade; Andreas Andreou, Chief Revenue Officer, TenTrade Africa; Ademola Adeagbo, Head of Education, Africa; and other members of the company’s leadership team.

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READ ALSO: US seeks stronger trade ties with Nigeria

The gathering comes as interest in online financial trading continues to attract participants across African markets, particularly young people seeking to understand and participate in global financial markets.

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Through the event, TenTrade is bringing together industry professionals and traders under the theme of building a stronger trading community and preparing the next generation of market participants.

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CBN issues regulations for non-security virtual assets, effective November 5,

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BY NKECHI NAECHE-ESEZOBOR—The apex regulator, the Central Bank of Nigeria (CBN) on Friday  issued regulations for the Operations of Non-Security Virtual Assets in Nigeria, setting out a framework for licensing, regulating and supervising stablecoins, virtual asset service providers and related activities.

According to a circular to virtual asset service providers and stakeholders in the financial services industry, the apex bank said the regulations are meant to promote responsible innovation, strengthen the integrity of the Nigerian financial system and provide an appropriate framework for emerging digital payment instruments.

The CBN said the regulations are issued under the CBN Act, 2007, the Banks and Other Financial Institutions Act, 2020, and other applicable laws. It described them as a comprehensive, risk-based framework covering the licensing, authorisation, regulation, supervision and oversight of non-security virtual assets in Nigeria.

The framework covers stablecoins, Deposit Money Tokens, virtual asset service providers, virtual asset payment services, platform-facilitated peer-to-peer services, and custody, transfer, remittance, clearing and settlement activities.

The regulations also set requirements on the classification and designation of regulated tokens and activities, and on the licensing of issuers and providers of non-security virtual asset services. Other areas covered include capital, reserve-backing, liquidity and redemption; corporate governance, risk management and internal controls; and technology risk, cybersecurity and operational resilience.

They further address the safeguarding of reserve and customer assets; customer protection, disclosures and complaints management; and anti-money laundering, counter-terrorist financing and counter-proliferation financing obligations. Sanctions screening, transaction monitoring, blockchain analytics, Travel Rule compliance, counterparty due diligence, regulatory reporting, supervisory access, information sharing, enforcement, administrative sanctions and orderly wind-down arrangements are also included.

The CBN said the regulations apply to persons carrying out regulated activities in or from Nigeria, those directing such activities at persons in Nigeria, and those whose activities may materially affect the country’s payments system, financial system, foreign exchange market or financial stability. They may apply whether or not the person has a physical presence in Nigeria.

The apex bank said the regulations do not displace the statutory mandate of the Securities and Exchange Commission or any other competent authority. Activities involving security virtual assets, securities, investment contracts or other capital-market products remain subject to the capital-market regulatory framework. Where an activity involves both non-security virtual assets and matters under another authority’s mandate, approvals must be obtained from each competent authority.

All affected institutions, issuers, service providers, operators, promoters and other stakeholders are required to familiarise themselves with the regulations and comply fully with the applicable requirements.

The regulations take effect from November 5, 2026. The circular was issued by the CBN’s Payments System Policy Department.

The post CBN issues regulations for non-security virtual assets, effective November 5, appeared first on Business Today NG.

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