Nigeria will Be Secured for Businesses to Thrive, Buhari Assures Spanish Firms

President Muhammadu Buhari on Thursday in Madrid, Spain, met with two Spanish companies doing business in Nigeria and assured them of a safe, secured and prosperous Nigeria for businesses to thrive.
Speaking at a meeting with chief executives of GB Foods, which grows tomatoes in Kebbi State and employs about 5,000 people, the president pledged that Nigeria would be secured, noting that it was one of the cardinal objectives of the administration.
He also assured of protection for local farmers against smuggling and dumping of foreign products, saying: “Detractors are working very hard against our efforts. That was why we closed our borders for so long, and the result is evident. We want to grow what we eat, and eat what we grow. Thank you for your huge investment in our country, the jobs you create, and skills imparted to our people.”
The Chairman of GB Foods, Artur Carulla, described the company as a family business now in its third generation in Africa, and which has invested over 250 billion dollars in countries like Nigeria, Algeria, Ghana and Senegal.

Promising to “double-down in Nigeria,” Carulla added: “Food is all we do. We have been in Africa since the 1970s. I’m married to an African, and connected emotionally with the continent. We bet on local talents and ingredients.
“It is good for us, and for Nigeria. We have built three factories in the last five years, and our products are 100 per cent locally manufactured.”
GB Foods pledged that in about two years, it would be en route to supplying 30 per cent of the nation’s tomato needs, stressing; “We will replicate what has happened with rice. We knew what it was before you came.”

At another meeting with Naturgy, a leading Spanish gas company, Buhari expressed pleasure that the company  had established a steady partnership with Nigeria in the oil and gas industry.
He said: “I had the opportunity to head the industry for over three years. And a feasibility study showed that we are more of a gas-producing country than oil. I’m pleased that you have been our partners for so long, and we are doing our best to stabilize the security situation in the country.”
Chief Executive Officer of Naturgy, Francisco Reynes, said the firm’s first contact with Nigeria was in 1992, and since then, they have become one of the largest buyers of Liquified Natural Gas (LNG).
According to him, Naturgy was interested in extending its relationship with Nigeria on gas, citing its 178 years experience in the business.
“Countries like Algeria, Nigeria, Oman, Qatar, and the USA, are our suppliers. We want to invest more in Nigeria,” Reynes said.

Also yesterday, President Buhari met with Nigerians living in Spain on the sidelines of his official visit, pledging that Nigeria would continue to defend the interests of its nationals living abroad.
The Diaspora team, which met with the President included President of the association, John Bosco; his deputy, Richard Omoregbe; Super Eagles player who plies his trade with Leganes FC, Madrid, Kenneth Omeruo; Obinna Okafor, a football agent; Mohammed Bashir, a student of Aviation; Segun Adedoyin, studying Global Affairs, and Bright Omorodion, a businessman.
The Nigerian leader said: “On the part of the federal government, Nigeria will continue to aggressively protect and defend the interests of all Nigerians abroad, especially the law-abiding compatriots.”
Buhari told the Nigerians he described as ambassadors of the country in Spain: “Many of you are here for different reasons, some for a fulfilling career in sports, especially in football from where you earn respectable incomes to sustain yourselves as well as maintain your extended families in Nigeria including investments back home.
“Some of you are engaged in other businesses that have enhanced your socio-economic status, both here and at home. More importantly, through your commitment to your various callings, you have enhanced the name and image of our country, thereby, earning Nigeria respect in Spain.
“I have also been informed of how law-abiding you are here in Spain. I wish to encourage you to continue to be role models for our youth back home as well as sustain the image of being excellent Ambassadors of Nigeria in Spain and live peacefully in the various communities in which you reside here.”
Buhari, who the Chairman of Nigerians in Diaspora Commission (NiDCOM), Abike Dabiri-Erewa, described as, “the most Diaspora-loving President” then explained why he established the Commission: “As I have always done whenever I am abroad, I wish to reassure all of you in Spain, of the determination of the federal government of Nigeria, to continue to remain engaged with our compatriots in the diaspora, for more purposeful partnerships that impact our country and people, it is in the quest for actualising this objective that I established the Diaspora Commission to give focus to the management of this partnership that leads to a win-win situation for Nigeria, at home and abroad.
“I believe that you are aware of how important your character, conduct and comportment in your daily activities define your roles as Ambassadors and image promoters of Nigeria abroad. As you perform this responsibility, I encourage you to embrace purposeful investments back home. Such investments can be financial or through your talents and skills which can help mould and develop our youths.”
The president touched on the many challenges facing the country, assuring that the government would not rest on its oars in surmounting them.
“Despite our numerous challenges at home, such as the containment of terrorist activities and other forms of threats to our national security as well as the devastating impact of the COVID-19 pandemic, our government continues to work assiduously to tackle challenges of infrastructural development, power, water, transportation, housing, etc with a view to creating the enabling environment for our collective prosperity.
“Our unity in diversity has always been our strength.  I therefore call on all Nigerians, including those of you in the Diaspora, to join hands with us in building the Nigeria we desperately want.”
Talking politics, Buhari said the country has started the process leading to national elections in 2023, noting that government is working tirelessly to ensure that the Independent National Electoral Commission delivers credible, free and fair elections and a smooth transition to the next democratic government.
“This is with a view to concretising our democracy and being an example to other African countries,” he stated.
Meanwhile, Buhari has called on investors to look beyond the challenges currently facing the world and focus on opportunities they present.
The president gave the advice when he addressed the Spain-Nigeria Business Meeting organised by the Spanish Chamber of Commerce and the Federal Ministry of Industry, Trade and Investment.
The president told the gathering of Spanish and Nigerian corporations and investors to look towards Africa for the opportunities therein.
According to him: “It is currently a challenging time for the global economy. But I have always held the strong conviction that there is no crisis without an accompanying opportunity and solution. Increased collaboration with African nations could well be what Europe needs to mitigate against both current and potential future supply-chain challenges and improve both our economic opportunities.”
He added that the business meeting provided a good opportunity to advance trade relations between the two nations which are today principally dominated by the oil and gas sector.
His words: “I believe this forum is an excellent platform to establish and strengthen business relationships, share valuable experience, and collaborate for the mutual benefit of our countries.
“For quite a number of decades, Spain has been one of Nigeria’s most important trading partners. It is, for example, a major importer of Nigerian crude oil. Nigeria’s exports to Spain stood at $4.8 billion in 2020 whilst Spain’s exports to Nigeria increased from $97.2 million in 1995 to $517million in 2020.
“A lot more can be done to increase the volume of trade and today presents a good opportunity to explore how this can be achieved.”
The Nigerian leader reiterated that the current administration has put in place mechanisms to shift the age-long dependence on oil for the sustenance of the country, adding that the focus now is into value chain and exploitation of available abundant solid minerals.
He said: “Since the inception of our administration in 2015, we have concentrated on moving beyond the historical dependence on crude oil for government revenue and foreign exchange inflows.
“We have successfully driven its diversification and put the economy on the path of sustainable and inclusive growth through an open, rules based and market-oriented way of doing business.

“Historically, the focus has been on Nigeria’s oil sector but Nigeria is home to a wide range of other sectors that hold very great potentials. We are the largest economy in Africa and our well over 200 million-strong consumer market is home to a range of attractive opportunities in sectors such as agriculture, healthcare, light manufacturing, infrastructure development and technology.

“Nigeria has a number of other notable mineral resources including coal, gold, bitumen, iron ore and uranium. However, our current focus is on adding value to our natural resources prior to exportation”

He, therefore, called on investors at the meeting to take advantage of the opportunities that the Nigerian market offers

According to him: “We are open to widening collaboration with Spain and in order to encourage private capital inflow, we have put together fiscal investment incentives which include the following: three to five years tax holidays for enterprises in what we deem to be pioneer industries; tax-free operations and no restrictions on expatriate quotas in our Free Trade Zones; capital allowances for agriculture, manufacturing and engineering amongst others.

“Going into partnerships with trusted local and foreign partners who have well-established networks and understand the dynamics of the economy and country is one of the identified keys to success in Nigeria.

“Today provides a platform for Spanish businesses to connect with credible Nigerian partners. I trust that all here present will build relationships that will translate into increased trade and investment flows between Nigeria and Spain.”

Buhari also used the forum to thank the Spanish government for donating 4.4 million doses of the COVID-19 vaccine to Nigeria.

Speaking earlier, Minister of Industry, Trade and Investment, Mr. Niyi Adebayo, said Nigeria and Spain have enjoyed a very cordial relationship since the 1960s.

He added that Nigeria was committed to increasing its volume of trade with Spain, even as Spain is currently one Nigeria’s strongest EU trading partners.

“Since signing the African Continental Free Trade Agreement (AfCFTA) Nigeria is also a gateway to the wider African market. Nigeria is a central point for companies wishing to do business in other parts of Africa. We are attracting and retaining sustainable investments by creating an enabling environment for businesses to thrive. “The federal government is addressing critical concerns around infrastructure and security; and creating employment for its youthful population,” the minister further said.

Deji Elumoye in Abuja

Follow us on: