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| Norway invests $700m in Nigeria |
| [07.02.2012, 08:30am, Tue. GMT] |
Norwegian Ambassador to Nigeria, Kjell Lillerud has revealed that Norway has indicated interest to invest $700 million in Nigeria oil and fish industry. Ambassador Lillerud disclosed this in Abuja while on a visit to Samuel Ortom, Minister of State for Trade and Investment in Abuja weekend. The envoy explained that his country had found Nigeria to be a fertile ground for investment which propelled, his country’s decision to commit such a sum of money into the country.He said,“Nigeria and Norway have bilateral trade relations and we have been working closely together for more than 100 years. As I am talking to you now, our country’s investment into the Nigerian economy is $700 million. “We are investing in fish, especially stock fish, sardines, and marcarer, as well as oil. Nigeria is a fertile land and that is why we will do more in our investment here”.
He however called on the federal Government to boost it provision of infrastructure such as power and tighter security for their investment to bloom in order to command more investment into the country. He did acknowledged the fact that Nigerians are friendly people that do not discriminate against foreigners.
In his remarks, Ortom ,while appreciating the Ambassador, who was accompanied by the country’s Counselor, Petroleum Co-operations, Kristin Waeringsaasen, admitted that Nigeria still battle with some challenges in the area of security and power supply but was optimistic that with foreign investors coming in, Nigeria’s country’s economy would have been among the number 20 industrialised countries in the world by the year 20-20-20, Nigeria.
He stated, “Federal Government is aware of the challenges posed by insecurity and power supply, but we are doing everything possible to make the country conducive and environment friendly for investors. Nigeria is endowed with a lot of natural capacity and a lot of incentives are opened now to encourage intending investors to come”.
The Minister then noted, “We, in the ministry will accommodate any investor and provide the necessary soft-landing process for their investment to thrive. Organised private partnership will make the country’s economy to measure up with the world’s leading economic powers and that is why we are encouraging you all to come and invest in Nigeria.”
He pledged the ministry’s support in ensuring that the Norwegian get a run for their investment.
(vanguardngr)
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