Return And Invest, FG Tells Nigerians In US

Channels Television  
Updated September 26, 2013

Minister of Trade and Investment, Olusegun Aganga has assured members of the international business community willing to do business in Nigeria of a friendly business environment laced with strong return on investment.

Speaking at a forum in New York, Aganga told a group of business men and women that government  has put in place the right polices that will support growth.

Also, the Nigerian National Petroleum Corporation (NNPC) is calling on more investors to participate in the Ogidigben Industrial Park project in Delta State.

The Group Managing Director, NNPC, Mr. Andrew Yakubu, who made this call during a panel discussion on power at the Nigeria Investment Summit in New York, said the gas-based industrial park offers investment opportunities in petrochemical, fertilizer, methanol and other non-oil sectors of the Nigerian economy.

Yakubu, who was represented by the Group Executive Director, Gas and Power, Dr. David Ige, said in a statement on Wednesday that the project was the choice destination for quick return on investment.

The statement was signed by the Acting Group General Manager, Public Affairs Division, NNPC, Ms. Tumini Green.

The Federal Government and the private sector are expected to invest $15bn (N2.39tn) in the 2,700-hectare gas-based industrial park. The contractors were expected to have moved to the project site since June.

The NNPC had during the Offshore Technology Conference in Houston, Texas, United State in May, 2013, said the clearing and preparatory activities would begin at the Ogidigben site in June.

Ige, who spoke for the corporation, had said, “Though this project is late relative to our timing, we are making progress. Our plan is that in the next one month or two, we are going to move to site for site clearing and construction will begin.

“The Ogidigben Industrial Park will have a fertilizer plant, a petrochemical plant, a central processing facility and a power plant of 350-megawatt capacity. There will be big commercial and residential areas. It is going to be the biggest gas-based industrial park in Africa.”