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Nigerian Entrepreneur and Indonesian Conglomerate Sign $ 1 Billion MOU with Government

By on December 6, 2011

Britain based Nigerian entrepreneur Ladi Delano and Indonesian conglomerate Barkie Group has announce a Joint Venture focused on investing approximately $ 1 Billion or N 163 Billion in the Nigerian economy.

The joint venture pegged Bakrie Delano Africa  will be focused on mining, oil & gas, and agriculture, specifically focused in Ogun and Akwa Ibom states.

The minister of trade and commerce, Dr. Olusegun Aganga signed the MOU with the consortium on behalf of the Federal Government of Nigeria.

Ladi Delano will be the CEO of the Nigerian arm of the enterprise.

Inda Bakrie of the Bakrie group said in a statement released today, “”With this venture we wish to reiterate not only that Indonesian companies are increasingly more active in shaping the world’s investment landscape, but also that Africa, especially Nigeria, is indeed an attractive investment destination.”

Nigeria is quickly becoming a top investment destination as developed economies are increasingly becoming saturated and devoid of the economic principles that make for an investment haven, such as abundance of affordable labor and resources.

Nigeria is one of a handful of countries that experts predict will leapfrog in terms of development ahead of other global players in the mid-to-long term.

Nigeria is expected to become the largest economy in Africa by 2015.

One Comment

  1. Oyebade micheal

    December 8, 2011 at 10:08 am

    i only would love to understand why refineries can’t work in Nigeria. US$2.68 billion no be beans o! why indonesia?