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Nigeria working to improve business environment, Osinabjo tells UK MPs

Published on February 15, 2016 by   ·   No Comments

Nigeria's vice president, Prof Yemi Osinbajo (2nd Left) with visiting UK MPs

Nigeria’s vice president, Prof Yemi Osinbajo (2nd Left) with visiting UK MPs

The Federal Government has directed the Ministry of Trade and Investment to raise the ease of doing business to attract more foreign investors to the country.

This was disclosed by Vice President Yemi Osinbajo when he received a United Kingdom Trade Mission led by Nigerian member of the House of Commons, Kate Osamor, at the State House.

The Vice President said the Buhari administration was eager to remove other obstacles militating against investments so that entrepreneurs could find the country a good place to do business.

He said the administration was looking forward to encouraging UK businesses, especially those willing to work with the administration in providing road, rail, agriculture and power infrastructure in the country.

The Vice President said the Federal Government was prepared to develop the agriculture value chain for economic prosperity and job creation.

“The Federal Government has everything needed to succeed in the agricultural sector,” he said.

He said also that the administration was leveraging on the general environment to achieve a high technology status, adding that plans were underway to develop technology parks nationwide.

On power supply, he assured that the plan was to have an energy-mix that would increase power supply nationwide to enable more rural populace to have access.

He disclosed that the administration had removed the obstacles hindering the development of the Azura power project in Edo which would add 450 megawatts to the National Grid.

He, however, added that government was considering either concessioning or privatising the project for speed and efficiency in its execution.

Osamor, who represents Edmonton, London, told State House Correspondents that the mission was in the country to discuss with trade companies that were willing to work with Nigeria.

She said that the Vice President had provided the mission with an overview of the direction of the government in education, transportation, rail and power supply.

“He spoke about five or six aims; he wants to work on construction, building on the roads, rails, education and the delegation wants to work closely with the organisations that are here,’’ she said.

Osamor said that she, in particular, was interested in raising the level of education of the people which had gone down drastically over the years.

She added that those in Diaspora would build schools and improve the quality of teachers and wipe out illiteracy.

She said that the mission would assist the current administration to perform well.

Also, Mr Emmanuel Obasi, Director and Board member of Africa House, London, said the group was keen on promoting the trade and investment relationship between UK an sub-Sahara Africa with particular interest in Nigeria.

He said the mission was satisfied with the anti-corruption fight of the administration which had encouraged the investors to visit the country.

He further said that the mission would assist in technical training and technology transfer needed in the country.

“We have that in stock and we hope Nigeria will take advantage of that because a lot of African countries need that technology.

“Here we are in Nigeria and we hope that the people will take it now,’’ he added.

Posted by on February 15, 2016, 10:12 pm. Filed under Business, Business News, International. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.

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