Abuja — The Federal Government will soon come up with an infrastructure master plan that would drive new investments in projects across all sectors of the Nigerian economy.
Minister of Trade and Investment, Olusegun Aganga, disclosed this during a meeting with the Andrade Gutierrez, AG Group, yesterday.
The group was led by Nigeria's Ambassador to Brazil, Ambassador Vincent Okoedion; AG's President for Africa, Rodrigo da Costa Fonseca, and AG's new Managing Director for Nigeria, Mr. Amauri Pinha.
The AG Group is one of the largest infrastructure investment companies in Brazil. Founded in Brazil in 1948 as a local company, the Group's asset base in 2010 was $19.23 billion, while turnover was $10.3 billion.
Currently, AG Group has completed over 650 projects in 38 countries, including the second largest hydro power plant in the world, Itaipu, in Brazil.
However, Aganga noted that Nigeria's Integrated Infrastructure Master Plan, which is currently being worked upon by the Ministries of National Planning, Trade and Investment, and the Infrastructure Concession Regulatory Commission, would be completed before the end of this year, adding that it would help the country to focus on attracting investors for key infrastructure projects.
He said, "during the International Investment Council meeting, presided by President Goodluck Jonathan recently, he commended each of the ministers for having very strong and robust master plan for each of the sectors.
"However, one of the decisions taken at the meeting was that it was time we put together an integrated infrastructure master plan that will bring everything together. The idea is that once we have that master plan (which we already have, but it is just to put it together), then we will have a list of priority projects that are available for investors to come and invest in".
This will make it a lot easier for investors that are interested in infrastructure projects to look at one master plan and work from there.
"The integrated infrastructure master plan would be worked on among the Ministry of National Planning, the ICRC and the Ministry of Trade and Investment. Hopefully, we expect to have it before the end of this year but that doesn't stop us from marketing other investment opportunities across Nigeria to genuine investors."
The Minister noted that the growing interest in the Nigerian economy by of foreign investors was a testimony that current efforts by the Ministry of Trade and Investment to market the investment opportunities across the world was yielding positive results.
He said, "This visit by Brazilian investors clearly demonstrates that our efforts at marketing Nigeria's investment opportunities to the world are yielding results. The AG Group is one of biggest infrastructure companies in Brazil.
"The fact that they have come to set up their office in Nigeria with a new Managing Director after our meeting in Brazil recently shows that our marketing efforts are working and people actually believe in the investment opportunities in Nigeria."
Speaking during the meeting , Nigeria's Ambassador to Brazil, Ambassador, Vincent Okoedion, said the growing interest by leading Brazilian companies to invest in Nigeria was an indication that the efforts of the Ministry of Trade and Investment in attracting investors into the country was yielding positive results.
He said, "Since the early 1990's when Petrobras came to Nigeria, this is the most significant Brazilian company to come to Nigeria. It shows that the Ministry of Trade and Investment is succeeding in selling Nigeria. This company was in Angola but they want to move over to Nigeria and make Nigeria the hub of their operations in Africa.
Also speaking during the meeting, AG's President for Africa, Rodrigo da Costa Fonseca, said that they had already concluded plans to set up their office In Nigeria because of the country's strategic position to the company's future investment plans.
He said, "The AG Group is a leading Brazilian infrastructure company that has been in Africa for than 30 years. Right now, we are poised to open up an office in Nigeria because Nigeria is the most important country on the African continent and we cannot afford to be left out. We are looking at key infrastructure projects to invest in Nigeria"