With Nigeria being Norway’s largest trade partner on the African continent, and with the trade volume between both countries standing at $30 billion, both economies have stressed the need to strengthen the bilateral ties even further.
The Norwegian Ambassador to Nigeria, Jens-Petter Kjemprud, explained that there is a lot both countries can do together, pointing out that Norway is currently making plans to increase investments in Nigeria’s oil and gas industry with focus also on the power sector. The Ambassador at a stakeholders’ meeting to present and promote the investment opportunities and incentives in Norway for prospective Nigerian investors in Lagos, advised that Nigeria’s manufacturing sector can only be competitive globally if the sector gets stable and cheap power supply.
According to him, “Nigeria needs renewable energy to take root in the country and incentivize investments. The power sector needs to be regulated and organised to attract investments. There are huge investment opportunities in the power sector and there is also need to secure these investments.” He tasked the managers of the Nigerian economy to deploy the use of technology in all sectors of the economy to achieve accelerated economic growth.
Source: The Guardian