Nigeria Expanding Investment Opportunities – Osinbajo

Vice-President Yemi Osinbajo on Tuesday told a cross-section of Norwegian investors that the Nigerian government was expanding opportunities for investments in renewable energy, technology and other sectors of the economy.

The VP also defended the closure of Nigerian land borders, saying with the signing of the African Continental Free Trade Agreement, it was important for Nigeria to take steps to address issues bordering on smuggling.

Osinbajo, according to a statement by his Senior Special Assistant (Media and Publicity), Laolu Akande, expressed these views at a round-table at the Nordic-African Business Summit holding in Oslo, Norway.

He said, “I think what has happened is that some of the contractors would prefer to sell wholesale power to the national grid; of course, that gives more certainty with regard to their revenues. But what we have tried to encourage now is more of the willing buyer, willing seller arrangement.”

Speaking further on how government programmes had impacted on young Nigerian entrepreneurs, the vice-president said most of the services required for the implementation of components of the Social Investment Programmes were provided by Nigerian technology companies.

He urged Nordic investors to take advantage of the friendly business climate in Nigeria to invest in key sectors of the economy, adding that the recent rating of the economy by the World Bank had reinforced his claim that the country was the investment destination in Africa.