European firms head Nigeria to invest

Fourteen European companies are going to invest in Nigeria’s real estate, construction, refinery projects, mining and agriculture. The Nigerian economy is expected to benefit greatly from an investment project, which is set to start in the second part of 2015.

Nigerian newspaper Vanguard reports that the companies seek local partners in Africa. The project will include a familiarization tour, feasibility study and potential investment search. The 14-company consortium is headed by (AFRIT) Integrated Consult, an Italy based consulting firm specialised in creating partnerships between Western investors and African firms seeking financial and technical collaboration and investments.

The European companies that participate in the project are to commit to training the local workforce; ensure the sale of goods produced in Nigeria in order to improve the local economy, support equal working conditions between local and foreign staff, participate in humanitarian projects of social development by committing 0.02% of the contract value to providing basic social facilities like schools, pipe-borne water, hospitals etc.
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