The Minister of Budget and National Planning, Senator Udoma Udo Udoma, has said that in a bid to accelerate economic diversification, the federal government would readily accept any trade relations with Spanish companies that would increase the inflow of foreign direct investment in the country.
The minister, who made this disclosure when the Spanish Ambassador to Nigeria, Mr Alfonso Barnuevo Sebastian De Erico paid him a visit in Abuja, explained that the Spain government has contributed immensely to the Nigerian economy over the years, particularly in patronage of products from Nigeria’s oil and gas sector but will accept any proposal from the country that would increase investment inflows.
A statement released by the media aide to the minister, Mr. James Akpandem, explained that government has been making conscious effort to improving the ease of doing business template and making sure that anybody who wants to do business in Nigeria has a much easier time.
Udoma stated that the federal government is seriously exploring the option of partnership with the private sector to speed up the realization of a massive infrastructure upgrade within the shortest possible time and keenly interested in expanding its agricultural potentials, solid mineral exploitation and infrastructure development, particularly in the area of roads, rail and power in line with its diversification objective.
In his remarks, the Spanish Ambassador to Nigeria, Mr Alfonso Barnuevo Sebastian De Erico, explained that Spain have enjoyed long lasting political and economic relations; and would like to deepen the relationship with further investments in some sectors of the Nigerian economy.
He further disclosed that Spain has been investing in Europe over time but now needs to move its focus to Africa, with Nigeria being a preferred destination because of the country’s huge market potentials.