‘Nigeria, most profitable place for business, investment,’ - Acting President

Acting President Yemi Osinbajo says Nigeria is one of the most profitable places in the ECOWAS sub-region for business and investment.

Osinbajo made this known on Monday, June 5, 2017, while meeting the foreign minister of Indonesia, Retno L. P. Marsudi at the Presidential Villa, Abuja.

The Acting President said with Nigeria’s large population and size, Nigeria has a prerequisite market for profitable returns on any investment and business.

Citing the success of Indomie, one of the products by an Indonesian company in the Nigerian market, Osinbajo said “there is much room to increase the volume of trade between both countries.”

“Nigeria is one of profitable places for business and investment because there is always market for them and government is creating a good and friendly environment for investment to thrive,” Osinbajo said in a statement signed by his spokesman, Laolu Akande.

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The Acting President said Indonesia should take advantage of the on-going economic diversification process, especially in the agricultural sector, adding that Nigeria could be exporting agro-allied products to Indonesia.

“About ten days ago we signed Executive Orders for Ease of Doing Business, we have a 48hour visa regime. There is a friendly business environment,” the Acting President assured.

Earlier, the Foreign Minister of Indonesia said she came to the country with two hundred 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.