Oct 29 2012
US Investors Due in Nigeria Next Year
By Tokunbo Adedoja
Olusegun Aganga, Minister of Trade and Investment
On arrival in the country, the investors would explore investment opportunities in areas like rail, airports, information and communication technology, agriculture, roads, Niger Delta Development Commission (NDDC) and ports.
The investors, who will hold business meetings in Lagos, Abuja and Port Harcourt, are billed to arrive on January 14, 2013, on an investment exploration driven by the State Department and the Corporate Council for Africa (CCA), a body at the forefront of strengthening and facilitating the commercial relationship between US and Africa.
They will hold meetings in Port Harcourt, where they would be hosted by the Niger Delta Development Commission (NDDC) and the BRACED, an acronym for the six South-South States – Bayelsa, Rivers, Akwa Ibom, Cross River, Edo, and Delta.
The build-up to a forum held this month in Washington DC had earlier revealed the rising interest of US investors in Nigeria. About 45 private and publicly quoted companies in the US were said to be exploring possibilities of investing in the country.
The investment forum on infrastructure with the theme, “Building the Infrastructure for Nigeria’s Vision 20:2020,” was jointly organised by the Nigerian Embassy in US and the Corporate Council for Africa.
That forum, which had impressive attendance of strategic Nigerian ministries and some state governors, targeted infrastructural projects where Nigeria is seeking foreign investors.
These include: the Golden Triangle Super Highway from Kaiama to Sokoto, a four to six-lane highway that would link 30 cities and state capitals stretching to about 631km; and Abuja Rail Transit project, covering 37km with 16 train stations that would connect the national railway line in Nasawara State.
Other targeted projects are the Caraway Dallas District Development project, a total land area of 550 acres for residential and commercial housing in Abuja; and the Abuja Greater Water Supply Scheme that would serve an area of about 34,495 acres, thereby increasing the urban distribution network coverage to 60 per cent.
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