Tuesday, 7 August 2012

Federal Government seeks to strengthen investment pact with Brazil for infrastructure development

Minister of Trade and Investment, Olusegun Aganga, says the Federal Government will strengthen investment pact with Brazil in order to attract more Foreign Direct investments that will fast-track the development of infrastructure across  all sectors of the  Nigerian economy.

Speaking during a meeting with a delegation from a major Brazilian conglomerate, Queiroz Galvao, in Abuja yesterday Aganga stated that leading Brazilian companies had already indicated their willingness to invest in the Nigerian economy, adding that the country would leverage areas  where it has  comparative  and competitive advantage to create jobs , generate wealth and transform the economy.

The delegation which was led by the Nigerian Ambassador to Brazil, Vincent Okoredion , and the companies Managing Director, West Africa, Marcos Alexandre Silva, also had in attendance representatives from the Ministries of Works; Health; Lands, Housing and Urban Development, and the Infrastructure Concession Regulatory Commission.

Speaking after the meeting, the Nigerian Ambassador to Brazil said the renewed interest of Brazilian companies to invest in Nigeria was fallout of President Jonathan’s visit to the country early this year.

Our correspondent reports that Queiroz Galvao, a group consisting of over 50 companies with staff strength of 46,000 and turnover of $4.3bn in 2010, is currently eyeing investment in critical sectors of the Nigerian economy including energy, roads, ports, airports, among others.

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