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Obasanjo encourages investments into Sao Tome

16 October 2015, 20:48Emeka Okonkwo

Abuja - Former President, Olusegun Obasanjo, believes his administration did its best to attract investments into the country.

Obasanjo, who led Nigeria from 1999 to 2007, was speaking in London, United Kingdom where he was guest speaker at an event aimed at luring investors into São Tomé e Príncipe.

Obasanjo highlighted the importance of trust, saying that it could only be gained when governments delivered on their promises and worked hard to create an enabling business environment.

“The slightest whiff of mistrust will cause investors to take flight. We did our best to fulfill our promises to our business partners and the Nigerian economy recorded impressive growth. São Tomé e Príncipe will surely learn some important lessons from our experiences,” said Obasanjo.

Also Read: Obasanjo leads Colombian security experts to Buhari

During his keynote address, the former Nigerian Head of State, who is known for being a champion of driving investment into the continent, said that he was at the conference to lend his support to the actualisation of São Tomé e Príncipe's transformational vision.

The gathering brought together a select group of private investors, members of the business community, and international development partners to discuss opportunities that were centered on the country's national strategic agenda.

São Tomé e Príncipe, Africa's second smallest country after Seychelles has ambitious plans as it positions itself as a hub for the Gulf of Guinea.

Conveniently located between some of Africa's largest economies, most notably Nigeria and Angola, it wants to create a logistical hub to service West and Central Africa, as well as becoming a tourist hotspot for expatriates working and living in the region. 

- CAJ News


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