Osinbajo woos global investors in power, agriculture, other sectors

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Vice President Yemi Osinbajo said Nigeria remains the best place to invest given its market and enterprising population.

He listed Nigeria’s power sector as one of the most viable investment platforms amongst others available to foreign investors.

Osinbajo who is currently visiting the United States, stated this while interacting with interested investors and foreign policy experts on Nigeria’s economic prospects and related matters at the Council on Foreign Relations in New York City.

With huge power generation and distribution gap, Nigeria’s population which is put at over 200 million, continued to suffer from poor electricity supply at less than 4,000 megawatts, according to the latest statistics.

Osinbajo said the potential, effort and impact being made by Nigerians in technology can enable the country roll out indigenous technology solutions that can transform the global space.

Osinbajo who stated that Nigeria is opening up the power sector, added that “We are asking power firms to come in and invest in end to end power supply. Power Africa – a USAID project has made a commitment of $110m over five years (2018 – 2023) to provide transaction support to the entire value-chain covering gas supply, distribution, transmission and generation activities with our population, and a market-driven power sector, so the next few years promise exciting prospects.

“This is also the case with other infrastructure. We are embarking on the largest investment in infrastructure in our history, welcoming private investments in concessions and projects rail, roads, airports, and other infrastructure.”

He disclosed that Nigeria has huge prospects also exist in investments in renewable energy, energy-efficient-processes and clean technology.

According to him “gas had been flared for almost 60 years by major oil companies but in 2017 government approved the Nigerian Gas Flare Commercialisation Programme, designed to eliminate gas flaring through … Read More...