The Minister of State for Power, Mohammed Wakil, has highlighted four key reasons why Nigeria was the best investment designation in Africa.
Speaking when he received in audience a 5-man American Investors delegation led by Roy Yeferez, Wakil said the nation’s legal environment was protective of investment.
He said there was huge market from population of 170 million, big purchasing power and above all, the political will to drive and support the sector.
He said the American investors had shown rare courage to come and see things for themselves.
He informed that the action of the ministry so far demonstrated was in response to President Goodluck Jonathan order to it to woo would-be investors any time they have the opportunity, so as to fast track investment activities in the sector.
He commended the Americans for their prompt response and positive comments after going round the country, saying this can only confirm that Team Africa was a serious business group ready to invest in Nigeria.
The delegation identified site location in Bayelsa State for the generation of 400mw of electricity in the next twelve to fourteen months.
It said there are also plans to increase power generation to between 500 and 600mw in the next four years.
Speaking, the leader of the American delegation, Roy Yeferez, said his team comprising both technical and financial experts, had over fifty years of experience in Foreign Direct Investment (FDI) around the world.
He added that they were in Nigeria to create jobs for teeming Nigerians, and that they were prepared to assist Nigeria with power generation.
“The paltry generation put at about 4,000MW is abysmally low to cater for 170million people, at least the country requires 30,000MW now,” he said.
He promised to be part of the endless opportunities that abound in Nigeria, stressing that it was rather unfortunate that international media were awashed with only negative stories about Nigeria.
