Nigeria to benefit from $100bn investment in oil and gas, others – Group

The Business Summit Group says it is targeting the mobilisation of more than 100 billion dollars investment across a broad range of sectors.

Haider Uzzaman, President Business Summit Group made this known in a news conference in Abuja on Tuesday.

Mr Uzzaman said that Nigeria was targeted for a 100 billion dollar investment as investors from different parts of the world beamed their searchlight on business opportunities in the country.

According to him, the investment is s significant push for Foreign Direct Investment, FDI.

”The investment push comes against the backdrop of about 58 trillion dollars in global capital reportedly sitting idle and searching for investment opportunities,” he said.

The president said that the investment portfolios would be targeted at structured and existing projects with viable business model, necessary documentations in the oil and gas, technology, renewable energy, agriculture and mining.

He said that others would include infrastructure, tourism and hospitality, human capital development, education as well as the health sector.

Mr Uzzaman said in spite the country’s security and infrastructure challenges, it remained an investment destination of choice.

He said that the country’s huge volume of daily oil production and a market size of over 200 million population was a major attraction for investors.

“On electricity generation, the current level of investment in the sector is completely unacceptable, in spite of  government’s liberalisation policy,”he said.

Mr Uzzaman also said that the group planned to host the International Investors Summit in Abuja from November 10 to November 11.

“This is a very important moment for us because we are bringing together international investors, global business leaders, government representatives and project owners from across the world.