Thursday, April 17, 2014

Qatar to invests $390m in Nigeria’s transport sector, says Minister Aganga

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Minister of Trade and Investment, Segun Aganga.

Qatar, a tiny Middle east country bordering the Persian Gulf and Saudi Arabia, has expressed interest to invest 390 million dollars in Nigeria’s transport sector in 2013.

Olusegun Aganga, the Minister of Trade and Investment, who disclosed this on Tuesday in Abuja, said the two countries had concluded arrangements to sign a memorandum of understanding (MoU) on the new investment.

He said that the move would create thousands of employment for the nation’s teeming youths.

“Nigeria and Qatar have concluded arrangement on the investment plan. Qatar is expected to invest 390 million dollars in logistics and transport sector of our own economy,”  Mr. Aganga said.

He said the construction industry would as from the 2013 fiscal year, witness a boom as the Federal Government would roll out policies that would make cement available at affordable prices.

According to the minister, the new economic measure would entail a ban on importation of cement and the rolling out of a new set of rules that would force down the price of cement.

“The Federal Government is making the move in fulfilment of President Goodluck Jonathan’s determination to make Nigeria one of the leading cement exporting countries next year.’’

Mr. Aganga said the paper work on the policy had been finalised, adding that government would ensure that local goods are patronised by Nigerians as from next year.

He said the “Buy Naija, create more jobs’’ being promoted by the ministry would not only be boosted next year, but also sustained to improve the nation’s economy through jobs and increased wealth creation for Nigerians.

“To achieve this, what we need is adequate information to develop ideas for foreign direct investments, trade, industrialisation and fostering of small and medium enterprises.

“For any company to survive, it needs strong values and team work like what we do in this ministry. Team work is necessary to help each other succeed, especially among our agencies,” he said.

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