Nigerian Investment in Ethiopia Increasing

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Addis Ababa, 23 August 2014 (WIC) -Nigerian investment in Ethiopia has been growing from time to time, according to Ali Abdo, Ethiopia’s Ambassador to Nigeria.

In an exclusive interview with ENA, the ambassador said the desire of Nigerian companies to invest in Ethiopia is increasing.

Ali added that Nigeria has many investors and owners of giant companies.

Following the recent agreement of the two countries to work jointly, wealthy Nigerian investors have turned their eyes towards Ethiopia, he stated.

Ambassador Ali added that the number one billionaire Aliko Dangote has, for instance, invested over 480 million USD in Ethiopia.

Dangote Investment Group, which is one of the huge foreign companies in Ethiopia, has created many permanent and temporary jobs, the ambassador said.

The Dangote Company has, in addition to producing cement, requested permission to invest in other sectors, according to Ali.

Another Nigerian investor who owns Car Gel Production Company has finalized the construction of a gel factory in Bishoftu.

Many other Nigerian investors are undertaking feasibility studies to invest in various sectors, it was learned.

Ethiopia Airlines has also facilitated the flow of Nigerian tourists to Ethiopia and created a good image of the country by flying to four Nigerian cities, Ali pointed out.

According to ENA, the Ethio-Nigerian diplomatic relation is over half a century old.