The Federal Government has signed a whopping N240billion ($1.6billion) investment deal with European Union, EU on power, and refinery.
The deal was sealed in Abuja, Monday, with a Memorandum of Understanding, MoU between the federal government and a consortium from EU.
The Minister of Trade and Investment, Mr. Olusegun Aganga during the signing of the first phase of the MOU with the consortium led by the 1st Deputy Prime Minister and Head of International Affairs and Investments, Republic of Kosovo, Mr. Behgjet Pacolli.
According to him, “We have held discussions with the representatives of Seagas Services Limited and Oceanmar Services Limited, about the investment opportunities in Nigeria”
“After a number of discussions, we are signing a Memorandum of Understanding for the estimated sum of $1.6billion to be invested in some of these areas. Specifically, the money will be invested in refinery, power and housing”.
He further said, “We have agreed on investments in a few areas such as housing, building a factory for gas infrastructure for the manufacturing of gas pipelines.
Aganga said that the Ministry of Trade and Investment would work closely with the Ministries of Power and Petroleum to facilitate the investments, adding that the Federal Government was committed to supporting genuine investors to invest in critical sectors of the Nigerian economy.
He added, “We also discussed the possibility of investing in the area of power, building of refineries and housing construction.
“It is the desire of the Federal Government, through the Ministry of Trade and Investment, to attract Foreign Direct Investments into Nigeria, create jobs, generate wealth and enhance the economic growth of the country.”
