Amaechi’s UK trip set to yield N305bn private sector investments in transport
Indications have emerged that one of the recent investment drive to the United Kingdom by the Transport Minister; Mr. Rotimi Amaechi may soon start to bring results.
This is coming on the heels of fresh report that a team of UK investors are heading to Nigeria with $1bn investment portfolio.
According to the report, the investments, expected to come on stream within 18 months, and will spread across maritime, railway and aviation industries. Representatives of Nigerian government and UK had sealed the deal during a trip by the Minister to UK last month.
The investment will be driven by private investors from Europe but is lead by a team from the UK.
A source at the Ministry of Transportation confided in Business Hilights Monday that the team will explore investment opportunities in a number of sub sectors including but not limited to establishment of ship building yards, flat-bottom boats for waterways, ports fencing, modernisation of transportation systems, ship breaking yards, railway infrastructure and logistics, power sourcing as well as the various channels of business to access financing from the UK.”
It would be recalled that on return, Amaechi had explained that Nigeria was ripe for more foreign direct investments, urging the UK firms to take advantage of the business opportunities, especially “now that the post-Brexit era could open more opportunities through the Commonwealth organisation.”
