Nigerian-Spanish business council will open gateways for foreign direct investments – President

The president of the newly established Nigerian – Spanish Council for Commerce, Industry, Mines and Agriculture , Ide John Udeagbala, has said the council will open gateways for businesses in both countries to thrive.

Udeagbala who stated this at the maiden press conference of the council in Abuja on Wednesday, disclosed that council is the result of a Memorandum of Understanding (MoU) signed between Nigeria and Spain in 2022 in the course of the visit of former president Muhammadu Buhari to Spain.

According to him, in the said MoU both countries committed to the exploration of ways through which business relationship between them can be enhanced.
Speaking on benefits of council, he said it would: ” Create amore robust business relationship between the two countries at inter- governmental level.
” Lead Mutual introduction of busineses from both Nigeria and Spain to areas of business interest and smooth facilitation of trade mission to and from the both countries
“Build of human capital and business logistics for the advancement of commerce and industry in both countries.”

He said membership of the council shall be open to reputable individuals and companies who have business interest in Europe and Africa and wish to use the two countries as an entry point.

“We will also encourage and work toward the establishment of industries in Nigeria by Spanish investors . We shall do our best to protect such interests and ensure that their operations impacts positively on the reduction of unemployment in the country, he said.
Also speaking, the deputy president the council, Dr Membre Otaji, said council would formalize alot businesses that have been going on between Spainairds and Nigerians and at the same time open up new ones.
“Nigerian businesses have been doing businesses with Spanish companies for decades, but in-between you have the good, the bad and the ugly. So how are they going to be formalized? That is why the two presidents said look, set up something like this.
“Although Nigeria is going through some turbulent times in our businesses and in our private homes, but what we are doing now is going to open gateways for businesses and production to thrive. We have a big market, over two hundred million people . We things like this, Spanish companies and investors will be very interested.”
On his part, the coordinator, Dr Jasper Uduagwuike said would begin by exploring immediate areas where Nigerian can benefit in agriculture beforehand moving into manufacturing.
“Spain is a highly developed country, they are very huge on industry, animal husbandry, wine and fabrics. So these are the areas where we want to encourage our business men to gain from.
“You will be amazed to know that up to 15 Nigerians have winery in Spain. So already there is a link. So we will just grow from the known to the unknown. We will start with agriculture, we will go into manufacturing and then we look at mines and industry. “