Abuja, Feb. 8, 2024 : The leadership of the newly established Nigerian-Spanish Business Council for Commerce Industry, Mines and Agriculture has promised to boost investors’ confidence in Nigeria by enhancing business relationship between the two countries.
President of the Council, Ide Udeagbala, made this known while briefing newsmen on the formation of the council on Wednesday, in Abuja.
Udeagbala said the council was the result of a Memorandum of Understanding (MoU) signed between Nigeria and Spain in 2022 in the course of the visit of the then President Mohammadu Buhari to Spain.
According to him, in the said MoU, both countries committed to the exploration of ways through which business relationship between them could be enhanced.
“This Business Council is the project vehicle for the achievement of the purpose stated above.
“As a result of the birth to this business council, we look forward to a more robust business relationship between the two countries at the inter- governmental level.
“We also expect mutual introduction of businessmen from both Nigeria and Spain to areas of business interest; smooth facilitation of trade mission to and from the two countries.
“And, building of human capital and business logistics for the advancement of commerce and Industry in both countries.
“It is believed that the mutual benefits of this relationship will cascade down the line and be of huge benefits to the ordinary persons in both countries,” he said.
Udeagbala said the membership of the council shall be open to reputable individuals and companies who have business interests in Europe and Africa and wish to use the two countries as an entry point.
He said that the council would also encourage and work towards the establishment of industries in Nigeria by Spanish Investors.
The president added that the council would its best to protect such interests and ensure that their operations impact positively on the reduction of unemployment in the country.
He said the main purpose was to authenticate businesses both on both side and to ensure that it gives that confidence.
“We shall also maintain a robust relationship with NACCIMA and other bilateral and city chambers in the country for the purposes of the Ideals enunciated above,” he added.
The Deputy President of the council, Dr Membre Otaji, said the council would be a gateway for many Spanish businesses and individuals to tap into the big market of over 200 million people in Nigeria.
He said some of them were already in the country, adding that the council would help them to become legitimate in Nigeria and make inputs into growing the Nigerian economy.
The Coordinator, Mr Jasper Nduagwuike, said the council would be key players in several sectors of the economy, adding that they would start with agriculture with a view to contributing maximally to the sector.