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Economy

Buhari in Dubai, woos foreign investors

President Muhammadu Buhari on Monday met with six different groups of investors at the sidelines of the Annual Investment Meeting in Dubai, United Arab Emirates.

The President who expressed optimism about Nigeria’s economic prospects, used the opportunity to call on investors to come and invest in Nigeria with promises of handsome returns on investments, within the shortest possible time.

This is just as Sheikh Ahmed Al Maktoum who is a member of the Dubai ruling family and a renowned private investor with membership of several boards of companies, both state owned and private, expressed interest in establishing a power plant in Lagos, disclosing that studies for the project have already been completed.

Chairman of Lulu Group, Yusuff Ali who operates a chain of supermarkets in the Middle East and Asia, told President Buhari of his interest in the Nigerian market adding that the outfit, with headquarters in Abu Dhabi, has over 164 supermarkets and shopping malls, and employs over 50,000 people.

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The interest is to work with Nigerian farmers, using local produce to ensure food security. Quality, affordability and hygiene are the watchwords of the company.

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Also in bilateral meeting with President Buhari was Sheikh Hussain Al Nowais, Chairman of Amea Power. The company develops, owns, and operates thermal and renewable energy projects in Africa, the Middle East and Asia. Its wide range of power solutions include conventional – gas, coal, oil, and renewable – solar, wind and hydro.

Apart from power, the company, which owns Rotana Hotel chain, is also interested in the hospitality sector in Nigeria.
Also on cue was Sheikh Ali Rashid Lootah, Chairman, Nakheel Properties and Limitless Group.

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One of the world’s leading developers and a major contributor to Dubai’s real estate transformation, the company’s current and future retail project portfolio covers nearly 17 million square feet of leasable space. They are keen to expand their investments in Nigeria.

Sheikh Khalid Bin Kalban is the CEO of Dubai Investments. His meeting with the Nigerian president centred around real estate, processing industries, mergers and acquisitions, health care, education, and financial investments. Abu Dhabi Fund for Development (ADFD) has supported over 66 projects in 29 African countries.

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They include rural solar power and water projects, and that was the focus of the discussion, as Sheikh Mohammed Saif Al Suwaidi, the CEO, met with President Buhari.

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The bilateral sessions were not concluded, till the Nigerian president had met with Jitender Sachdeva, CEO Skipperseil Group. An integrated energy company with operations in the manufacturing of substation equipment, discussions were on engineering processing, construction of transmission lines and substations for utilities, institutions and industries.
The company’s CEO expressed delight at meeting with President Buhari, and looked forward to doing good business in Nigeria.

Source: By Tony Ailemen

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