Invest in infrastructure, Fashola begs foreign investors"

The Minister of Power, Works and Housing, Mr Babatunde Raji Fashola has begged foreign investors to invest in infrastructure in the country Fashola plead with the foreign investors when he received in audience the Ambassador of Italy to Nigeria, His Excellency, Fulvio Rustico and the Ambassador of Spain to Nigeria, Alfonso Barnuevo Sebastin de Erie in Abuja Wednesday. 

The Minister told the Ambassadors that Nigerian government is ready to partner with investors who show interest in the areas of infrastructural developments, “Because these sectors are critical to both social and economic survival of any nation.” He added that Nigeria market is big enough to accommodate any serious investor who wants to put in his resources, saying, there can never be a better time than now.

On the housing sector, the Minister said that government has resolved to evolve a national housing policy that will be tailored to the need of Nigerians, stressing that, the design will take into cognizance the cultural, religion and the geographical locations of Nigerians. He reiterated the need for government to resolve to local raw materials as against the imported ones, adding that it will not only boost the economy but it will also be an avenue to generate employment for Nigerian youths as well as encouraging the cottage industries. 

He specifically told the Spain Ambassador to look at critical areas in road construction, power and housing while hampering on the use local materials for those sectors. Fashola however commended Spanish companies that have already invested in power sector and implored them to intensify their efforts especially now that Nigeria hardly generate about 5,000MW for a population of about 170m, saying that government is committed to efficient power generation that will go round the clock and the option that government is considering the use of solar energy. 

While stating his mission to the Minister’s office, the Italian Ambassador to Nigeria, Fulvio Rustico said, his visit to the Minister is poised on the existing relationship between his country and Nigeria. Rustico stated that now that Nigeria is intensifying efforts toward diversifying her economy, the Italian government is seeking collaboration between Nigeria and Italy to fine tune the gray areas that would be of great benefit to both countries. On his part, the Ambassador of Spain to Nigeria, Alfonso Sebastin said his country is ready to strengthen the relationships that exist from time immemorial with Nigeria. 

He said that some Spanish Companies have shown their interest in energy generation as well as housing sector and that they are soliciting for the Minister’s support.