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FG tasks Brazilian investors to set up plants

By Franklin Alli  & Naomi Uzor

The Federal Government has urged Brazilian investors to set up manufacturing plants in the country.

This was government’s response to request made by the Brazilian investors for removals of restrictions on some of their items that fall under the prohibitions list to enable them introduce their products directly to Nigerian markets instead of being smuggled into the country.

The Permanent Secretary, Federal Ministry of Industry, Trade and Investment, Mr. Dauda Kigbu received the Brazilian business delegation led by Anibal Moacir da Silva, the City Mayor, Sao Leopoldo .

Anibal Moacir requested for removal of trade barriers, especially restrictions on some of their items that fall under the prohibition list to enable them introduce their products directly to Nigerian market instead of being smuggled into the country.

This he said will enable them to assess the market and take a position in partnering with local businessmen for investment in local production.

The leader of the delegation, Anibal Moacir da Silva, pointed out that they were in Nigeria to assess opportunities and exchange experience for future trade relation as well as strengthen trade relationship between both countries.

Kigbu, however, said that government policy on Industrialisation is based on promotion of local products and backward integration to stimulate production activities that will create wealth and employment opportunities for Nigerians.

“We are encouraging domestic and foreign investors to come and invest in some of the areas we have comparative and competitive advantage rather than have large scale importation that has serious effects on our foreign reserve and employment situation in the country.

“If you are interested in investing in Nigeria, you can start production of your products in the country and explore 167 million people and ECOWAS sub region where we now serve as hub and you can reach out to the rest of African countries,” Kigbu said. He noted that Nigeria has export free trade zones in a number of places that investors can take advantage of and set up businesses there to export to the world.


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