Thursday, 14 November 2013

NACC Hosts American Entrepreneurs Interested in Investing in Nigeria

Amb. Geoffery Teneilabe, Nigeria Consul-General in Atlanta, U.S., on Wednesday led a delegation of American entrepreneurs from Houston in search of viable investment opportunities in Nigeria.

They were hosted by the Nigerian-American Chamber of Commerce (NACC) in Lagos.

Mr Brian Mcleary, the U.S. Commercial Counsellor in Nigeria, said that Nigeria was fast becoming an economic giant that could not be underrated and that there were huge opportunities for investment in the non-oil sector.

Chief Olabintan Famutimi, Deputy President, NACC, said that the chamber would collaborate with the delegates by exposing them to available opportunities and arming them with information about the nation's business terrain.

“The big players in the telecoms industry in Europe and America were invited to bid for Nigeria Telecommunications some years back, but they rejected the offer.

“The 40,000 fixed lines we had back then have been replaced by over 120 million mobile lines.

“The seemingly second rated companies that took advantage of that opportunity have reaped bountiful profits.

“There are mind-boggling opportunities for investment in our power sector because it is currently undergoing the same revolution.

He also urged them to established businesses in various free trade zones across the country, like the Chinese.

“If you don't utilise the opportunities now, the Chinese will take it all,” he said.

Source: Nigerian Bulletin

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