The Acting President, Yemi Osinbajo, has described Nigeria as one of the most profitable places in the Economic Community of West African States sub-region for business and investment.
A statement on Tuesday by his Senior Special Assistant on Media and Publicity, Mr. Laolu Akande, quoted the Acting President as speaking while receiving the Foreign Minister of Indonesia, Mrs. Retno Marsudi, at the Presidential Villa, Abuja.
Osinbajo told his guest that with the nation’s large population and size, Nigeria has a prerequisite market for profitable returns on any investment and business.
Citing the success story of Indomie Noodles which is one of the products by an Indonesian company in the Nigerian market, he said there was much room to increase the volume of trade between both countries.
“Nigeria is one of the profitable places for business and investment because there is always a market for them and government is creating a good and friendly environment for investment to thrive,” he said.
Osinbajo urged Indonesia to take advantage of the ongoing 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,” the Acting President said.
Earlier, the Foreign Minister of Indonesia 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.
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 the market.
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