#WEF18: Osinbajo courts foreign investors, touts reforms in Nigeria’s manufacturing sector

Vice President Yemi Osinbajo has touted reforms in Nigeria’s manufacturing sector by the Buhari administration as he woos investors at the ongoing World Economic Forum (WEF) in Davos.

Spokesperson to the vice-president, Laolu Akande, in a statement, reports that Osinbajo spoke earlier on Tuesday at a meeting with a delegation of the Japan External Trade Organization, JETRO, led by Hiroyuki Ishige, the organization’s Chairman and CEO.

Osinbajo was quoted as saying, “Nigeria and Japan should be doing more, far more based on the existing long relationship and trade between both countries”. The vice president added that this would be to the mutual benefit of both countries.

He said that manufacturing was one sector that Nigeria and Japan could work together on and deepen their economic relations.

According Osinbajo, “Nigeria, the largest economy in Africa will be getting involved in the manufacturing global chain and it would be private sector led, government would be backing it up.”

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He cited the example of the Special Economic Zones (SEZ) which are being set up in the country, adding that the zones would have all the needed infrastructure.

“We will provide world-class infrastructure and this is a good opportunity for investors around the world to tap into, an opportunity to do some game-changing projects, to do something big,” Osinbajo said.

Akande reports that earlier in his presentation at the meeting with the vice president on the sidelines of the WEF, JETRO’S Chairman, Ishige, noted the rise of Japanese firms in Africa, the country’s readiness to promoting business in Nigeria and supporting Nigeria’s export promotion.

The spokesman to the vice president also revealed that Osinbajo participated in the WEF’s solo video message recording on the conference’s theme “Shared Future in a Fractured World”, where heads of governments, business leaders answer one question around economic development sent in from the global public. He added that other leaders who participated in the video included French President Mr. Emmanuel Macron and the Prime Minister of Norway Mrs. Erna Solberg.

 

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