Spain reveals plan to set up manufacturing companies in Nigeria

Reports show that the Government of Spain has disclosed plans aimed at setting up Spanish manufacturing companies among other businesses in Nigeria, targeted at exploring economic potential and build business relations in Nigeria.

The Guardian reports that this is even as an official trade delegation has scheduled a visit to Nigeria in May 2017. The delegation having discussions with government agencies and familiarizing itself with the business environment in Abuja between May 8 and 9, and meeting with private sector operators in Lagos on May 10, 2017 before leaving for their home country.

The Guardian reports that the Spanish Ambassador to Nigeria, Alfonso Barnuevo, on Wednesday, dropped this hint, when he paid a courtesy visit to the Minister of Budget and National Planning, Senator Udoma Udo Udoma, in Abuja.

According to an official statement released by the Media Adviser to the minister, Akpandem James, and made available to journalists, the move is part of government efforts to attract foreign investment into the country to boost the economy, The Guardian reports.

According to The Guardian, The Ambassador said it was time the two countries looked into the future to find more ways of being mutually beneficial to each other, particularly now that the country has a government that is sold to good governance principles.

“We appreciate the effort of Nigeria in the area of transparency and fighting corruption. We appreciate also its economic policies; and these will take the country forward. We are very supportive of Nigeria and its policies”, he added.

The Ambassador said Spain has been investing in Europe over time and now needs to move its focus to Africa, with Nigeria as a preferred destination because of the country’s huge market potentials. “That is why we are bringing in Spanish companies to know the country and also explore investment opportunities available”, he explained.

He said though the number of Spanish companies already doing business in Nigeria is increasing, the planned trip is very special as the focus would be on some very specific areas, including Construction, Energy and Environment and Water and Sanitation.

He told the minister that he would appreciate the full involvement of the Ministry of Budget and National Planning and other relevant Federal Government agencies in facilitating the realization of the planned visit as it has enormous potentials of enhancing trade relations and economic growth between the two countries.

The Ambassador emphasized that Nigeria and Spain have enjoyed long lasting political and economic relations, adding that the time has come to deepen the relationship with further investments in some sectors of the Nigerian economy.

Read more: http://guardian.ng/business-services/spain-to-set-up-manufacturing-companies-in-nigeria/

Source: The Guardian