5 March 2018

Liberia Opened for Business - President Weah Tells Nigerian Counterpart

Photo: The Guardian
President Muhammadu Buhari, right, met behind closed doors with the visiting Liberian President George Weah.

Abuja, Nigeria — Liberian President George M. Weah has declared that Liberia is now opened for business to the world, especially Nigerian private sector investors, who are strong players in rapid growth of the African continent.

The Liberian leader said there is a need to address the current trade volume between the two countries, which is very low and does not exceed five million dollars. President Weah made the remarks in Abuja, Nigeria during his official visit to that sisterly nation.

An Information Ministry dispatch from Abuja, Nigeria says, the Liberian leader named electricity, housing, fisheries and mining as some of the key areas Nigerians could invest.

"There are also major shortcomings in the electricity and power sectors, in road construction, in housing, in mining, and in fisheries, to name a few, that could be of serious interest to Nigerian investors, either as individuals or companies, or through joint-ventures or public-private partnerships;" the Liberian leader said.

The dispatch further said, the Liberian leader called on Nigerian business leaders to come to Liberia and explore the many available opportunities.

"We invite all of you to come to Liberia and explore the many new opportunities for investment that abound."

President Weah vowed that his administration will create a business friendly environment for foreign and local businesses.

"I promise you that you will find a government that is not only business friendly, but ready to do business, he asserted.

"On a personal note, President Buhari, it is my intention, with all due respect and affection, to frequently seek your wise counsel and advice as we embark upon this arduous task of nation-building, reconstruction, and transformation of my country," the Liberian leader said.

At the same time President George M. Weah has made a passionate appeal to Nigerian banks in Liberia not to leave the country.

The Liberian leader recounted the vital role Nigerian banks are playing in the Liberian economy through the provision of micro loan and other social development programs.

"The Liberian banking sector is dominated by Nigerian banks, and I am made to understand that their Head offices in Nigeria may be considering reducing their support or even shutting them down because of the recent downturn in our economy.

"If this is true, I urge them not to do so, as l am optimistic that trade and commerce will increase in the near future; President Weah said.

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