Group Targets $100bn Investment in Nigeria Oil And Gas, Others

The Business Summit Group said it is targeting the mobilisation of more than 100 billion dollars investment across a broad range of sectors.
President, Business Summit Group, Mr Haider Uzzaman, made this known at a news conference in Abuja on Tuesday.
Uzzaman said that Nigeria was targeted for a 100 billion dollar investment as investors from different parts of the world beamed their searchlight on business opportunities in the country.
According to him, the investment is s significant push for Foreign Direct Investment (FDI).
”The investment push comes against the backdrop of about 58 trillion dollars in global capital reportedly sitting idle and searching for investment opportunities,” he said.
The president said that the investment portfolios would be targeted at structured and existing projects with viable business model, necessary documentations in the oil and gas, technology, renewable energy, agriculture and mining
He said that others would include infrastructure, tourism and hospitality, human capital development, education as well as the health sector.
Uzzaman said in spite the country’s security and infrastructure challenges, it remained an investment destination of choice.
He said that the country’s huge volume of daily oil production and a market size of over 200 million population was a major attraction for investors.
“On electricity generation, the current level of investment in the sector is completely unacceptable, in spite of government’s liberalisation policy,” he said.
Uzzaman also said that the group planned to host the International Investors Summit in Abuja from Nov.10 to Nov. 11.
“This is a very important moment for us because we are bringing together international investors, global business leaders, government representatives and project owners from across the world.
“Last year, our business summit was held in Bangkok, Thailand. Following that gathering, a number of Nigerian companies and state governments that participated strongly encouraged us to bring the next edition to Nigeria.
“We listened to that call. We believe that the country has enormous investment opportunities, tremendous human capital, abundant natural resources and a strategic position within Africa and the global economy.
“Our objective is to create a platform where these opportunities can be presented directly to serious international investors,‘’ he said.
Uzzaman also encouraged Nigerian companies, state governments and investment promotion agencies to take advantage of the summit.
He said that the summit would be relevant to medium and large Nigerian companies seeking international capital, technology, and partnership and market expansion.
“It is equally important for state governments that are serious about attracting FDIs into their states.
“The Plateau State Government is already taking the lead with investment commitments valued at over $1 billion in the past six months.
“The group is also calling on other state governments, project owners and business leaders in Nigeria to key into the opportunities,‘’ he said.