Nigeria pursues $3b investment in Free Port Zone

Nigeria has taken a step further in sealing a N3 billion proposed investment in a petrochemical and port project by the Tolaram Group of Singapore.
This followed the visit of Nigeria’s High Commissioner to Singapore, Ambassador Nonye Rajis-Okpara, to the Chairman of Tolaram Group, Mohan Vaswani.
Rajis-Okpara told Vaswani, who oversees a business that includes the manufacture of the popular instant noodles, Indomie, that Nigeria was looking froward to working with the company in order to secure more investments in the country.
The Tolaram Group is also into manufacturing, power, petrochemicals and port development in Nigeria.
It is already planning to invest about $3 billion into a petrochemical and port project in Lekki Free Port Zone in Lagos State.
The visit equally afforded the Ambassador the opportunity to discuss arrangements for the forthcoming Nigeria-Singapore Business and Investment Forum, being organized by the the High Commission in collaboration with the Singapore Business Federation and International Enterprise, Singapore.
The Forum is expected to hold between October 28 and 30, 2013 in Singapore.
Rajis-Okpara told ​Vaswani that arrangements for the Business and Investment Forum were on top gear and that the Singapore Government was fully supportive of the event and had released officials from the relevant ministries to serve on the Organising Committee.
She said Nigeria’s Minister of Industries, Trade and Investment, Dr. Olusegun Aganga, would be leading the Nigerian delegation to the forum.
Also expected at the Forum, according to the Ambassador, are the Ministers of Housing and Urban Development, Education, Aviation and some state governors.
Rajis-Okpara listed areas in which Nigeria would want to collaborate with the Tolaram Group to include education; maritime and port development; a​gro-allied industries; manufacturing and services; h​ousing and urban development; infrastructure development; ​energy/power; w​ater treatment/technology; and w​aste treatment.
​Vaswani expressed his appreciation to Rajis-Okpara for the briefing, applauding her tireless efforts in promoting Nigeria’s business and investment opportunities in Singapore and in particular in hosting the Business and Investment Forum.
He noted that Tolaram Group has not only given full support to the Federal Government’s efforts in promoting Nigeria and the country’s investment potentials, but on her own has continued to bring in new investors to Nigeria.
​Vaswani assured the Ambassador of his full support towards the success of the Forum and continued cooperation in fostering beneficial relations between Nigeria and Singapore.