Spain has confirmed that its companies are awaiting the formation of President Muhammadu Buhari\u2019s cabinet in order to enable them increase investments in Nigeria.<\/p>\n
Economic Counsellor of the Embassy of Spain in Nigeria, Pablo Segrelles made this confirmation in Lagos on Thursday, saying that Spanish investors, who had \u201ckeenly\u2019\u2019 monitored the conduct of Nigeria\u2019s elections were now expecting the announcement of a new cabinet.<\/p>\n
\u201cSpanish companies have always indicated interest in doing business in Nigeria, but the conduct of the 2015 elections resulted in a lot of standby decisions by these companies.<\/p>\n
\u201cBut shortly after the peaceful conduct of the elections these companies are more than ready to come into Nigeria.<\/p>\n
\u201cThey are now waiting for President Buhari to constitute a new cabinet. And as soon as he announces his cabinet, more Spanish companies will come to Nigeria,\u2019\u2019 he said.<\/p>\n
This confirms reports that the absence of a cabinet after over a 100 days in office by President Buhari is really hurting the country\u2019s economy.<\/p>\n
The counsellor expressed the Spanish companies\u2019 optimism in the leadership qualities of Buhari to make Nigeria investment-friendly.<\/p>\n
According to him, Nigeria\u2019s investment environment is currently fraught with challenges of unstable power supply, infrastructure, port congestion, corruption and insecurity.<\/p>\n
Segrelles therefore, urged the new administration to urgently address the country\u2019s investment challenges headlong to enable more foreign investors come to Nigeria.<\/p>\n
He also said that it was imperative for the new government to promote the rule of law, transparency and accountability in different sectors of the nation\u2019s economy.<\/p>\n
The counsellor also urged the new administration to work hard at promoting Public Private Participation (PPP) to drive the nation\u2019s overall development.<\/p>\n
\u201cEverybody has a lot of expectations from the new president of Nigeria.<\/p>\n
\u201cAlso, Spanish companies and investors are expecting more transparency, adherence to the rule of law and less corruption to be able to do business in Nigeria,\u2019\u2019 Segrelles said.
\nMailExpress, Online<\/p>\n","protected":false},"excerpt":{"rendered":"
Spain has confirmed that its companies are awaiting the formation of President Muhammadu Buhari\u2019s cabinet in order to enable them increase investments in Nigeria. Economic Counsellor of the Embassy of…<\/p>\n","protected":false},"author":1,"featured_media":41904,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[17],"tags":[],"class_list":["post-41903","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-exclusive"],"yoast_head":"\n