AICL woos investors, says Abuja is ready for business

The Group Managing Director of Abuja Investment Company Limited (AICL), Maureen Tamuno, has described as erroneous the perception that the Federal Capital Territory (FCT) is a public service city.

Speaking during a courtesy visit of the Consulate General of Nigeria to New York, Abubakar Jidda, the GMD emphasized that Abuja has the capacity for investments, calling on interested investors from across the world to take advantage of its potential.

According to her, AICL is a profit-making company efficiently positioned to do business for the government.
“If we buy a bottle of water, we want to know how to sell it to make a profit. We are not on appropriation; we roll over our capital through public-private partnership (PPP). So, we are businesspeople.

“What we do is make a profit and pay dividends to our owner, which is the Federal Capital Territory Administration (FCTA). So, we are very focused, and we have been for 30 years. And when you invest through us or our partners, you can be sure of your investment,” she said.

In a video clip presented to her guest, the GMD highlighted various steps taken by FCTA to secure the environment for both residential and business. Jidda, whose mission was to discuss areas of possible collaborations in bringing investments to FCT, expressed delight with the efforts at repositioning the city, not only as the seat of power but also as a business hub.

Noting that the Nigerian population would be hitting 400 million by 2050, out of which 70 per cent would be under 30 years, he said he has led a delegation comprising some U.S.-based Chinese investors, who had approached the Consulate with the intent to do business with Nigeria.

The Consulate General, however, believed that Nigeria has the manpower that must be engaged fully and that with glaring evidence of development in FCT, it is a one-stop shop for investment in various sectors.

He also informed his host of a series of invitation proposals he has received from across the states in the United States under his purview for investment collaborations in various sectors of the economy, including agriculture and mining.

According to him, the partnership has led to the signing of some contracts with certain agencies in the country.Decrying the unnecessary bureaucratic bottlenecks encountered by potential investors in some federal agencies, which has discouraged many of them, the Consulate General said with serious organisations such as AICL, Abuja was certainly an investment destination.

“But I think this is an entire package for us, in any area that we feel we can get an investor, you have it – mining, agriculture and health care. If we can work with your office, I would be satisfied”, he said.He also requested a copy of a presentation by the company, showcasing business opportunities in FCT and the effort of the FCTA to make the environment conducive for investors.

To cement the business relationship, he appealed to the GMD to visit New York for a high-profile meeting with potential investors so that they can hear directly from her, what FCT has to offer.

Responding, the GMD described the visit as timely, noting that upon assuming office, she met with ambassadors from 42 countries serving in Nigeria, who were briefed about investment opportunities in FCT.

Having served as an envoy, she admitted the problem of bottlenecks even as she refuted the insinuation that everything about business in Nigeria has to do with a few states, especially Lagos, Kano and Port Harcourt.She noted that investing legitimately in Abuja is guaranteed and profitable.

“It outlives your generation to the next generation because of the base of where it is, which is part of the fear Nigerians in the diaspora have,” she said.
The GMD disclosed that part of their activities is engagement with key stakeholders who attended the first investment submission organized last year, on how to advance and translate words to actions.She further acknowledged the invitation from Amb. Jidda to New York for meetings with intended investors, noting that AIC is open to such engagements.

“We are also very happy to deal with your colleague from Frankfurt working in the area of health.”Also speaking, the Consulate General of Nigeria to Frankfurt, Germany, Ambassador Yakubu Dadu, who arrived in Nigeria last weekend, said he was excited about the meeting with the GMD and her team.

He also informed me about potential investors in Germany, who were either sceptical about the environment or the fact that they might not get the desired attention considering that Nigeria is dealing with the world’s largest economic countries.

“But the few of them that I had meetings within the last quarter of last year were very promising but the challenge they had was that they don’t know so much about investment opportunities in Nigeria”, he said.