China Taps Nigeria for Pharmaceutical Factory

I don't know how long it will be, but I am convinced that Africa is the next China, the next India, the next Southern Asia.

China already has its foot in the door.

China and Nigeria signed a memo of understanding to build a pharmaceutical manufacturing factory in Nigeria's Osun.

The factory, to be completed by the middle of June next year for a cost of $50 million, will produce anti-malaria drugs.

Nigeria is giving away land, setting up free trade zones and building an airport nearby to service the factory.

What's more important is that China sees a future here – future business, future manufacturing opportunities, a strategic partner.

What do you think?