FG pleads with investors to build assembly plants in Nigeria

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The Federal government has implored multinationals intending to invest in the Power Sector to build assembly plants in Nigeria.

We want to see “Made in Nigeria” on the power components even though they are manufactured in the Nordic Countries,” Prof Barth Nnaji told top executives of the ABB Group who visited him in the office on Tuesday. The delegation was led by the Swedish Ambassador to Nigeria, Mr. Per Lindgarde.

The team had come to request for space to invest in the power sector, a statement from the ministry said.

Prof. Nnaji said ‘it would be inappropriate for investors to come here and invest, make their profits without the benefits of generating sustainable employment for Nigerian citizens and grow the economy further.”

Nigerians must have benefits from the investors who are coming but the government would be happier if Nigeria is the hub from where the electric power components are assembled and even exported to other countries, the minister said.

He advised the Swedish team to appreciate the Nigerian market and extend the love the Nordic Countries have for Nigeria to the power sector and that the time to explore the market is now.

The power minister advised them to streamline their area of interest in the sector and come up with their proposal, assuring that the president was anxious to welcome them.

Earlier, the Swedish Ambassador, Mr. Lindgarde had said the Power Sector Road Map was commendable. He said in every nation, investment in the power sector has always come with guaranteed and bankable returns.

In : Business