Osinbajo, NCDMB try to win US investors to oil industry
The Nigeria’s Vice President Yemi Osinbajo, and the Executive Secretary of the Nigerian Content Development and Monitoring Board, Mr Simbi Wabote, have extended efforts to woo investors to the nation’s oil and gas industry.
The NCDMB said in a statement that Osinbajo, Wabote and other top Federal Government officials were at the Silicon Valley, California, United States on Monday to attract foreign direct investment to Nigeria.
It said the main objective of the visit was to promote the ample investment opportunities in the country’s key sectors such as Information and Communication Technology, oil and gas, power, agriculture and solid minerals.
According to the statement, the delegation also highlighted Nigeria’s market size, entrepreneurial spirit, vibrant young demography, and fiscal incentives for pioneer investments.
The NCDMB noted that Wabote was invited on the trip to highlight on the board’s strategies to deepen collaboration and sectorial linkages between the oil and gas industry and the ICT sector.
It added that the executive secretary used the opportunity to discuss with top fund managers, sister agencies and founders of start-ups on the NCDMB’s focus areas in research and development, and support for companies domiciled in Nigeria.
The statement read in part, “The board has developed a pathway for developing research and development capabilities in the Nigerian oil and gas industry, and is partnering various local and international stakeholders on the initiatives it is pursuing in this regard.
“About 11 Nigerian start-ups in innovation and technology had the opportunity to make presentations to the foreign investors on their business models and the support they required. The presentations covered the application of technology and innovation to address challenges in logistics, procurement, healthcare, financial services and insurance.”
The Vice President thanked the investors for honouring the invitation and the Nigerian delegation for the efforts put into planning the event to make it a resounding success, the statement added.
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