By EMMA UJAH
As the Nigerian economy continues to attract foreign investors, a group of Americans have concluded plans to establish a tractor manufacturing firm in Nigeria. This is in line with the vision of the federal government to diversify the nation’s economic base from oil to other sectors such as agriculture where the country has comparative advantages.

Nigeria’s Consul General in Atlanta Georgia, USA, Ambassador Geoffrey Teneilabe, disclosed in Abuja.

Amb. Teneilabe said during a chat with journalists on preparations for the 9th International Kaleidoscope Business Forum and Expo scheduled to take place in June this year in the USA, that the Nigeria agricultural sector has become especially attractive to American investors.

Kaduna and Port-Harcourt have been identified by the investors as locations for the factories with the expectations of providing Nigerian farmers the much-needed machinery for mechanized agriculture.

According to him, now the understanding is on that there are vast opportunities in Nigeria and if the US private sector does not go, others will take advantage and by the time they come, it may be too late just like it happened in the telecommunication industry.

He noted that there was initial reticence on the part of US private sectors business men coming to Nigeria “but the reticence is in other sectors not in the oil and gas sector, US companies are there in full force in the oil and gas sector.

He said their interest has shifted to agriculture as a way of diversifying the economy; Power, infrastructure, and other sectors, and because they are aware of this “GE has already signed a partnership agreement with the Nigerian government; they are taking over 15 per cent of 10, 000 megawatts of electricity, the Exim bank has come into Nigeria and invested over a billion US dollars.”

The diplomat stated that the Nigerian missions abroad are pursuing government economic diplomatic policy, with a view to bringing foreign investors into the country, adding that whatever is required to encourage investors into the country will be done.

The foreign missions, he explained, are able to guide these investors through “quick issuance of Visas, passports and general encouragement about general information and potentials we have, the opportunities that are available in Nigeria and anything that could promote commerce and investment between US and Nigeria.”

However he cautioned that it is not enough for the federal government  alone to do all these, while he imploring the state government to be involved.