International News
Reforms programme attracts foreign investments
Apr 15, 2004, 10:49
| | Nigeria has attracted over $1.6billion of foreign investments within the last four months, as a result of the confidence that the international community is showing on government’s economic reforms programme.
Minister of Finance, Mrs Ngozi Okonjo-Iweala said on 13 April that the economy reform package, NEEDS, has been well received, judging from the reaction of the business community, which last week met with top government officials in Paris, France.
She mentioned specific investors that have come to the country within the past four months as
. The Nigerian businessman in Diaspora, Chief Deinde Fernandez, who invested $20million in tantalite solid minerals exploration
. A group of American investors led by Nigeria’s Prof Bart Nnaji who are investing in a $40 million power plant in Abia State
. South African investors who are committing One billion Dollars in tourism, hotel development, agriculture, oil and gas
. Nestle, the Swiss company is committing 30 million Swiss Francs to expand the capacity of their plant in Ota, Ogun State.
Mrs Okonjo-Iweala said that the American investment in Abia State is unique, as the proposed power plant would avoid NEPA to directly connect to the cluster of businesses in Abia State.
The (power plant) investment would be completed in March 2005, she said.
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The new economic reform agenda
President Obasanjo outlines economic reform agenda
World Bank supports economic reforms with $3b
World Bank, IMF endorse Nigeria’s economic reform
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