USTDA Moves to Deepen Investment in Nigeria

United States Trade and Development Agency (USTDA) said it will make efforts to deepen U.S investment in Nigeria by encouraging American companies to invest in the country.

Acting Director, Thom Hardy, who stated this when he visited the Lagos Deep Offshore Logistics base (LADOL) in Lagos said the U.S is happy to be part of efforts that will create growth and jobs opportunity in Nigeria.

LADOL is currently playing host to the fabrication of a $3.8 billion oil and gas logistics service facility commonly known as the Floating Production Storage and Offloading –FPSO rig, otherwise called the Egina project.

The USTDA, Hardy stressed, has been a long term development partner with LADOL, adding that as the company continues to expand, USTDA is proud to associate with them.

“We work together to do some of the engineering work, expand their IT system and design the power plant that they are looking to build on site to supply their customers. We do is provide the early investment analysis, the project preparation analysis necessary for them to make an informed business decision and we provide an opportunity for them to learn about the U.S innovative technology so that as they are making their investment decision they have the technology of U.S companies.

“Most importantly we try to make U.S companies aware of that such investment opportunity exists in Nigeria. LADOL is a great partner for that because of the way they are open and built their system to attract investment and U.S companies. USTDA is at the forefront of that making sure that as LADOL is investing in infrastructure U.S companies are aware of the opportunity to invest in Nigeria.

“On his advice for united States companies who would like to invest in Nigeria, he said investment all over the world takes time, “It takes time been on the ground, knowing your customers, understand what they want and how what you are providing meets their needs. You have to find that synergy and where the opportunity is. I think LADOL is a great opportunity for been able to provide a platform for companies to come together to build and create jobs in Nigeria and we are proud to be able to support that, “he said.

The Special Adviser to President Muhammadu Buhari on Job Creation and Youth Development, Afolabi Imokhuede, who also led a delegation to the base, said the government will work with key actors in the private sector to ensure the success of the Empower Programme.

“The federal government is clear about the fact the job creation strategy of government is private sector led but government enabled. As I was referring, the contact that brought us to LADOL is as a result of the linkage that we have with the actors in the private sector that worked with us.

“Right from the time we drafted the creation strategy and identified the priorities sectors like agric, agro-allied, construction, retail ICT and renewable energy, we planned the strategy with the Nigerian Economic Summit Group and they been our active partners as to how we will drive implementation. It was not just a framework but an implementation plan. We the federal government is doing is to kick start the engine with the empower program, “he said.

Also speaking at the event, Executive Director LADOL, Mr. Ladi Jadesimi said the company will continue put process in place to will endear it to global organisations.

He said: “We have been lucky in the past to receive grants for studies from the USTDA which has boosted our growth especially in the areas of power and paperless system. The path is really set for us to deepen those links that we already have with the USTDA.

“We are a process driven business, for us what is important is our processes and systems to make sure that we are complying with world specification standards. I am talking about ISO 14001, ISO 1800 and ISO 19000 which we have just been through. This gives us the platform which international organisation can plug in readily.”