15 Firms Plan Multi-Million Investment Manufacturing Industrialization

Posted on : Thursday , 11th December 2014

 Fifteen firms from four countries have indicated interests to invest in key sectors of the economy such as agriculture and manufacturing. This was made known by the Nigerian Ambassador in Argentina, Amb. Chive Kaave, when he led the investors from Argentina, Peru, Cuba and Paraguay to meet with the Executive Secretary of the Nigerian Investment Promotion Commission, NIPC, Mrs. Saratu Umar. He said the visit was in response to the federal government's foreign investment drive, which was meant to stimulate economic growth and job creation.

He said: "This delegation is made up of leaders of industries in various fields; they are here to explore how to partner with us." "They are ready that is why they are here but the essence of their visit to NIPC is to let them know the stop point so they won't get to the wrong side of the law when they have interactions with Nigerian business men they will have to know that NIPC is the starting point." Responding, Umar said it was not the first time such a huge number of potential investors from one country was visiting Nigeria.

She said the Commission was created to provide enabling environment for investments, assuring that opportunities abound in Nigeria as the government has provided lots of incentives to investors.

Umar noted that Nigeria, America and Argentina had enjoyed robust trade relations, adding that there was the need to balance the gap in trade as it favoured them more to come to Africa's biggest market.

She said: "Nigeria is open to investment in agriculture, port development, renewable energy, mass transportation, agriculture, solid minerals, oil and gas among others.

"It is a business decision that they need to make hence the need for them to come and look around first but from what we have seen we are sure that the next time they will be in Nigeria, it will translated to huge investment but for now, they here on a fact finding business."