Belgian multinational firms eye investment opportunities in Nigeria

The robust Nigerian economy valued at $510 billion is attracting interest, as 60 Belgium multinational companies are in advance stages of seeking strategic partnerships with potential Nigerian investors in various sectors of the economy, Paulette Trier, council member, Nigerian Belgium Chamber of Commerce, said recently in Lagos.

For the first time in five decades, an important Belgian trade mission by 60 multinational companies will take place in Lagos and Abuja from June 1 – 6, 2014.

While the need for economic diversification becomes imperative for Nigeria, Africa’s largest economy, and with Belgium already being the third largest importer to Nigeria, there are strong indications that trade between Belgium and Nigeria is expected to yield positive returns and results.

“We are expecting 60 multinational companies from Belgium to come and explore investment opportunities in Nigeria. The sectors that are likely to get these imminent collaborations with Belgium multinationals will include the power sector, transport, ports, construction, dredging, agro industry, health, logistics, among others,” Paulette said.

Paulette said while in Nigeria, the Belgian multinationals led by Van Peel, president, Port of Antwerp, will meet and hold business talks with prospective Nigeria partners during the event.

The renewed interest in Nigeria is buoyed by the robust economic growth figures over the years and the fact that Nigeria is now the largest economy in Africa with huge potentials.

“In Lagos, they will also visit the Nigerian Ports Authority, the Eko Atlantic City Project, in which as a matter of fact an international Belgian dredging giant and a Belgian construction company are actively involved in.

“After which they will focus on individual contacts with interested Nigerians companies in the field of ports, equipment, power, transport, constructions, dredging, agro industry, health and infrastructure,” she said.

The investments in these sectors are expected to create lots of opportunities and contribute immensely to the growth of Nigeria’s economy. While in the country, the investors will network and seek to establish relationships with prospective business partners.

She disclosed that the intended business exploration by the Belgium international companies in Lagos was under the guidance of the Nigerian-Belgium Chamber of Commerce and the Belgian Commercial Information and Documentation Centre.

The Belgian Commercial Information and Documentation Centre is powered and initiated in Belgium by Flanders Investment and Trade (FIT), responsible for commercial missions.

The mission in Lagos is organised by the office of Paulette VanTrier, who has more than 30 years of experience in Nigeria, while the trade mission in Abuja will be organised by the Belgian embassy.

Justice Godfrey Okamgba