By Donald Ugwu
The Acting President, Prof. Yemi Osinbajo, has assured investors that Nigeria is one of the most profitable places in the ECOWAS sub-region for business and investment.
Osinbajo said this while meeting the Foreign Minister of Indonesia, Mrs Retno Marsudi, at the Presidential Villa, Abuja.
The meeting took place on Monday evening, according to a statement by the Senior Special Assistant on Media and Publicity to the acting president, Mr Laolu Akande, on Tuesday.
According to Osinbajo, with its large population and size, “Nigeria has a prerequisite market for profitable returns on any investment and business.”
Citing the success of Indomie noodles, one of the products by an Indonesian company in the Nigerian market, Osinbajo said “there is much room to increase the volume of trade between both countries”.
“Nigeria is one of profitable places for business and investments because there is always market for them and government is creating a good and friendly environment for investment to thrive,” he stated.
He urged Indonesia should take advantage of the on-going economic diversification process, especially in the agriculture 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,” the acting president assured.
Earlier, the Foreign Minister of Indonesia said she came to the country with 200 business people and had visited Lagos as her country was ready to begin business relationship with Nigeria.
Mrs Marsudi also solicited the establishment of Palm Oil Producing Council between Nigeria and Indonesia.
She stressed that countries producing palm oil should work together to benefit maximally from the market.