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Nigeria’s market profitable for investors, says Osinbajo

By Terhemba Daka and Nkechi Onyedika-Ugoeze, Abuja   |   07 June 2017   |   4:40 am

Acting President Yemi Osinbajo (right); Bayelsa State Governor Seriake Dickson; Amayanabo of Brassland, King Alfred Diette Spiff and Director, Brass Fertilizer and Petrochemical Company Ltd, Chief Olufemi Adesanya during a meeting at the State House in Abuja…yesterday.  PHOTO: PHILIP OJISUA

FG promoting new vision to secure Niger Delta

Acting President, Yemi Osinbajo, has declared that Nigeria is one of the most profitable places in the ECOWAS sub-region for business and investment. Osinbajo spoke yesterday when he received the Foreign Minister of Indonesia, Mrs. Retno Marsudi at the Presidential Villa, Abuja.

He said with her large population and size, “Nigeria has a prerequisite market for profitable returns on any investment and business.” Citing the success of Indomie, one of the products by an Indonesian company in the Nigerian market, Osinbajo, according to a statement by his Senior Special Assistant on Media and Publicity, Mr. Laolu Akande, said, “there is much room to increase the volume of trade between both countries.”

He said Indonesia should take advantage of the on-going economic diversification process, especially in the agricultural sector, adding that Nigeria could be exporting agro-allied products to Indonesia.

Earlier, the Foreign Minister said she came to the country with 200 business people and had visited Lagos, as her country is ready to kick-start a business relationship with Nigeria.

Marsudi also solicited the establishment of Palm Oil Producing Council between Nigeria and Indonesia, stressing that countries producing palm oil should work together in order to benefit the market maximally.

Meanwhile, the Acting President says Nigeria in the near future, would no more be a dumping ground for ICT products and services as government is committed to the establishment of Africa’s first $1 billion ICT company in Nigeria.

He also expressed the government’s commitment to encourage the growth of indigenous ICT companies to world standards by providing policies that will help them thrive.

At the 2017 Digital Africa Conference and Exhibition yesterday in Abuja, Osinbajo observed that government is making efforts to ensure that Nigeria’s IT products become viable and competitive.

He noted that government has a role to play in encouraging indigenous ITC companies to thrive and would provide enabling environment for indigenous Information and Communication Technology companies through good policies.

He lamented that Nigeria could not boast of any standard IT company compared to others like Apple, Samsung among others. In another development, the Acting President says the administration is promoting a new way of thinking and engagement that will secure the development of the Niger Delta through collaboration between the government, the private sector and the communities. This approach ensures that “we finish whatever we start.”

He spoke when he received the Bayelsa State Governor, Seriake Dickson, who led the Amanyanabo of Twon-Brass, Alfred Diete-Spiff, along with some private investors to the presidential villa, Abuja.

Specifically, the delegation was in Abuja regarding the $3.6b Brass Fertilizer and Petro-Chemical Company that is expected to come on steam soon.

Lamenting that only 12 per cent completion rate was recorded in several of the projects undertaken by the Niger Delta Development Commission in the past years, while the rest were abandoned, Osinbajo stated that “sometimes projects are designed not to succeed, but just for some people to make money.”




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