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FG Promotes Investment Opportunities with Brazilian Investors

By on August 7, 2012

Minister for Trade and Investment, Dr. Segun Aganga

The Federal Government has highlighted the investment opportunities to Brazilian investors who recently paid a visit to the Minister of Trade and investment, Dr. Olusegun Aganga.

The Brazilian company Queiroz Galvao is a multi-billion dollar company with interests in construction, real estate development, food, investments and concessions, oil and gas, exploration and production, iron and steel Industry, environmental engineering and urban transport, among others.

It employs over 46,000 people and its revenues in 2010 were in excess of $4.3 billion.

Speaking to the delegation of Brazilian investors, Aganga said:

“Brazil is an influential member of the BRIC nations with a big appetite for investing in Africa, especially Nigeria. So, there is the need for us to strengthen our partnership with them to attract big investments into our country, especially in those areas where we have competitive and comparative advantage.

“When you look at agriculture, Brazil has something similar, or even bigger than what we have. The same applies to mining and oil and gas sectors. But the difference between Brazil and Nigeria is that they have managed to positively exploit their resources across the value chain by converting their raw materials into finished goods. That is the only strategy that any country, including Nigeria, can employ to move from being a poor nation to a rich one.

“Another thing is that in Brazil, the appetite for investment in Africa, especially Nigeria, is very huge. They are currently looking for strategic countries, especially Nigeria, where they can invest. In terms of fund for investment, the Brazilian Bank BNDES is bigger than the World Bank.

“Through their BNDES, they have been able to channel resources to their private companies to invest internationally. So, the Group that has met with us today is interested in investing in infrastructure – rail, road, refineries, airport, among other things. Another Group from Brazil, is coming to Nigeria next week to explore areas of investment.”