Vice President Mohammed Namadi Sambo is in Saudi Arabia to meet with the Forbes 5th richest man in the world, Prince Al-Waleed bin Talal bin Abdulaziz al Saud in search of more investors in the Nigeria’s economy.
The Vice President, at the meeting which held yesterday at the Kingdom Centre in Riyadh, the Federal Capital, briefed the Saudi Prince on what he called, the giant strides Nigeria is making in its developmental drive.
He said that the recently concluded privatization of the power sector, the opportunities that abound in the development of Gas infrastructure as well as government’s plan to invest $1billion in the sector encouraged the government to go out to seek for more investors even as he assured the billionaire of the viability of the sector.
Namadi Sambo also talked about the development in the upstream and downstream sectors of the economy as regard marginal fields, refineries, chemical as well as fertilizer plants. According to him, opportunities in the transport sector such as the deep sea ports, railways, and roads to be constructed on a public private partnership abound.
The vice president called for investments in the local sugar production, dams with facility to develop irrigation, the industrial framework for Nigeria in the automobile industry, development of steel and other solid mineral deposits, coal to power plant as well as Halal Meat industry.
Namadi Sambo hinted that the Centenary City project required private investments, adding that the planned regional routes that connect Lagos (in Nigeria)–Benin Republic-Togo-Ghana-Cote D’Ivoire which agreement would soon be signed.
He assured the prince that Nigeria would provide the enabling environment for investors to participate in business and thanked him for the confidence he has in Nigeria.
Prince Alwaleed said that he had had a long-term investment in Nigeria in the Oil & Gas sector and that he is also involved in a chain of businesses in the hospitality industry, construction, Oil & Gas as well as many others. Some of his businesses include the Fairmont, Four Seasons and the Citygroup.