Nigeria woos foreign investors with infrastructure

Vice President Yemi Osinbajo in Davos, Switzerland, said Nigeria was ready to partner international investors and friendly nations to develop Nigeria’s manufacturing sector and promised to boost infrastructure to provide ambience for investment.

Osinbajo said this in a statement by his Special Senior Assistant on Media, Laolu Akande, in Abuja.

Osinbajo stated this while meeting with a delegation of the Japan External Trade Organization (JETRO), led by Mr Hiroyuki Ishige, the organisation’s Chairman and CEO on the sideline of the World Economic Forum (WEF).

According to Osinbajo, the Buhari administration working with the Private Sector is determined to boost the Nigerian manufacturing sector and will be engaging with international partners and friendly nations to realise the goal.

“Nigeria and Japan should be doing more, far more based on the existing long relationship and trade between both countries,” said the vice president.

According to him, the collaboration will be mutually beneficial to both countries.

The vice president said manufacturing was one sector that Nigeria and Japan could work together and deepen their economic relations.

“Nigeria, the largest economy in Africa will be getting involved in the manufacturing global chain and it would be private sector led, government would be backing it up,” Osinbajo explained.

He cited the example of the Special Economic Zones (SEZ) being set up in the country as a major boost to the sector, adding that the zones will have all needed infrastructure.

“We will provide world-class infrastructure and this is a good opportunity for investors around the world to tap into, an opportunity to do some game-changing projects, to do something big,” he added.

Earlier, JETRO’S Chairman, noted the rise of Japanese firms in Africa and highlighted the country’s readiness to promote business in Nigeria and support Nigeria’s export promotion.

Also the vice president participated in the WEF’s solo video message recording on the conference’s theme: “Shared Future in a Fractured World”.

In the programme, heads of government and business leaders answered questions around economic development sent in from the global public.

Other leaders who participated in the video included French President, Mr Emmanuel Macron, and the Prime Minister of Norway, Mrs Erna Solberg.