Nigeria’s market profitable for investors, says Osinbajo

Acting President Yemi Osinbajo has said  Nigeria is one of the most profitable places in the Economic Community of West African States (ECOWAS) sub-region for business and investment.

He spoke at the Presidential Villa while receiving the Foreign Minister of Indonesia, Mrs Retno L. P. Marsudi.

In a statement by the Senior Special Assistant on Media and Publicity, Laolu Akande, yesterday, the Acting President said  with the country’s large population and size, it has a prerequisite market for profitable returns on any investment and business.

Citing the success of Indomie, one of the products by an Indonesian company in the market, Prof. Osinbajo said: “There is much room to increase the volume of trade between both countries.

“Nigeria is one of profitable places for business and investment because there is always market for them and government is creating a good and friendly environment for investment to thrive.”

He said Indonesia should take advantage of the on-going economic diversification process, especially in the agricultural sector, adding that Nigeria could be exporting agro-allied products to Indonesia.

“About 10 days ago, we signed Executive Orders for Ease of Doing Business, we have a 48-hour visa regime and all that. There is a friendly business environment,” he assured.

Earlier, the Foreign Minister said she came to the country with 200 business people and had visited Lagos as her country is ready to kick-start business relationship with Nigeria.

Mrs. Marsudi also solicited the establishment of Palm Oil Producing Council between Nigeria and Indonesia, stressing that countries producing palm oil should work together in order to benefit maximally from the market.


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