Qatari Investments In Nigeria to Hit N500bn, Says Envoy

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With current renewed efforts at strengthened bilateral relations, the State of Qatar has forecasted that its level of investment in Nigeria will reach around N500 billion by the end of the year

The Ambassador of the country to Nigeria, Dr. Ali Ghanem Al-Hajri, gave this projection in his address during the Qatar-Nigeria Economic Forum, held in Abuja.

“The Qataris from public and private investors are looking forward in their deliberations to find more opportunities between the two countries to increase the volume of trade, technology transfer, and raise the level of bilateral relations,” the envoy said, noting that the Forum is the most important economic event between the two countries. We anticipate that Qatari investment in Nigeria will exceed (500) billion Naira (one billion dollars) by the end of this year.”

Minister of State for Mines and Steel Development, Dr. Uchechukwu Oga, said Nigeria is the largest economy in Africa with GDP 514 Billion dollars and 57% economically active population.

He went on to say that “Nigeria is an attractive investment destination for global investors, including delegates from Qatar,” because it has over 44 minerals in commercial quantities in various locations. We have opened the doors to more entrants into the Nigerian economy, and we welcome Qatar investment as a sure way to diversify the Nigerian economy and create jobs for millions.”

Manager of the Qatar Development Bank, Ali Sultan Alkuwari, who focused his remarks on the “available opportunities for economic cooperation,” noted that Qatar aims to build a diverse economy by enhancing and improving products and services that are competitive in the global market.

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