Osinbajo Markets Nigeria’s Renewable Energy Potentials In Oslo

Yemisi Izuora

Vice President Yemi Osinbajo has wooed investors from the Nordic region with assurances that Nigeria is deeply committed to expanding opportunities for investments in renewable energy, and technology.

Osinbajo took the message to a cross section of Norwegian investors at a round-table event at the Nordic-African Business Summit holding in Oslo, Norway.

A statement by the Presidency in Abuja on Wednesday stated that the Vice President took the investors round to the gains in reforming the energy sector.

He said that there were millions of households waiting to be served with power.

“We think that simply opening the market and ensuring that people are able to build their contacts and realise profits from their supplies is really what government would rather do,” he said.

In the oil and gas sector, Osinbajo said that Nigeria now had better regulations and that there was greater clarity in all that was being done within the sector.

“The new regulations will hopefully be fair and just, and create an atmosphere of fairness and equity.

“The other thing I think we should bear in mind is that the deep offshore space is an area where because of new technology, we should see more activities and revenues for both government and investors,” he said

On the closure of Nigerian land borders, the Vice President said that with the signing of the African Continental Free Trade Agreement, it was important for Nigeria to take major steps to address issues bothering on smuggling and dumping of products imported through neighbouring countries.

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He urged the Nordic investors to take advantage of the friendly business climate in Nigeria to invest in key sectors of the economy, noting that the recent rating of the economy by the World Bank reinforces his claim that the country is the investment destination in Africa.

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