The bilateral economic cooperation and trade between China and Nigeria definitely has grew by leaps and bounds in recent years. And these bilateral trade, investment and business engagement have created phenomenal expansion in economic and social interaction and opportunities for the two countries. This interaction and opportunities no doubt has helped lift millions out of poverty, create employment and improve livelihood of many Nigerians.
In spite of these beneficial effects of improved economic and investment flows between Nigeria and China, the potential of this bilateral relationship is still underexplored. Tremendous challenges remain in its implementation and evaluation. Many foreign investors, especially from China, still have limited knowledge of the local political economy and sociocultural setting of the Nigerian economy. As such, they are unable to fully tap the benefits of several bilateral agreements between the two countries. Therefore, there is a need for a coordinated approach to harness the benefits and potentials of this bilateral cooperation for both countries.
The main aim of UNILAG- INCDS is to develop a platform to promote business, research, exchange of socio-cultural ideas that would enhance or further strengthen the existing Sino-Nigerian relationships. The Institute is also to facilitate the localization of Chinese businesses in Nigeria, provide reports on their needs and improve compliance with rules and regulations on labour and local content, and aid adjustment to the Nigeria’s business environment.
The UNILAG-INCDS shall always deploy the UNILAG pool of intellectuals to provide expertise and recommend proposals of core areas of interest to investors on critical sectors of Nigerian economy as prelude to advocating evidence-based policies to fast-track and sustain the development objectives of both local Chinese businesses in Nigeria.