BUSINESS Nigeria economy‘ll benefits from Pakistan investors – Abbasi
Pakistani Minister of Oil and Natural Resources, Mr. Shahid Abbasi, was in Nigeria recently for the second joint ministerial commission’s meeting of the two countries after 30 years. In this interview, Abbasi spoke on the potentials of both countries and added that the new economic status of Nigeria will attract its country to invest in West Africa. Excerpt:
beneficial to both countries. For example, we are importer of energy now and Nigeria can help us with that. We also import about $12 billion of petroleum products every year and importation of petroleum product from Nigeria is almost zero, we are thinking of Nigeria on that. Also, we have four types of fluid we use which nothing is coming from Nigeria. We have certain experience in gas distribution which Nigeria lacks; we can help them in that area. Also, on the use of natural gas, 60 percent of neutron is converted into natural gas and I think we have a big opportunity from Nigeria. There are a whole lot opportunities to benefit from
Nigeria now rated as the best economy in Africa, how would this affect the trade and bilateral relation between the two countries?
There are tremendous opportunities we can gain from that. Basically, we are not looking at the West African economy before. But this will now allow Pakistan to look at the region because Pakistan is also a major economy in Asia, we are averagely great people, the GDP is rising and we can look at other opportunities besides oil and gas here in Nigeria and the entire Africa.
You are in Nigeria for the second Nigeria-Pakistan ministerial commission meeting, what has your consultation yielded?
As you know, the meeting is for joint ministerial commission, it covers every ministry. We discussed the opportunities and the agreements to be signing with those ministries. I met with the ministries of foreign affairs, agriculture, education, petroleum, trade and investment, health, tourism, aviation and spoke on a lot of opportunities. This is just the beginning, to make people aware that these opportunities exist and a lot of knowledge and experiences our countries can share that is basically the purpose of the meeting.
Is there any plan to invest in the Nigeria oil and gas sector aside importing the product to your country?
Yes, it is possible because we have two state owned companies and one of them is here in Nigeria. The company will look at the opportunity and then hear from Pakistani companies and also in Pakistan there are several opportunities for Nigerian companies in different sectors even in the oil and gas.
How many areas were you able to agree on?
The Pakistani president who will be visiting Nigeria by the end of this month will sign the MoUs into agreement but we hope to sign three of the MoUs on the establishment of joint chambers of commerce, cooperation in the education sector, and in investment sector.