TheCable

President Muhammadu Buhari has urged investors in the United Arab Emirates (UAE) to invest in Nigeria.

The president spoke on Monday while meeting groups of investors on the sidelines of the annual investment meeting in Dubai.

According to Femi Adesina, spokesman of the president, Buhari assured the investors of handsome returns within a short time.

“Come to Nigeria and prosper. Come and have handsome returns on your investments, within the shortest possible time,” Buhari was quoted to have said.

Adesina said Ahmed Al Maktoum, who is a member of the Dubai ruling family and private investor, both state owned and private, had told Buhari that he was interested in establishing a power plant in Lagos, while studies had already been completed.

The presidential aide said that Yusuff Alli, chairman of Lulu Group, which operates a chain of supermarkets in the Middle East and Asia, also told the president that the outfit, with headquarters in Abu Dhabi, has over 164 supermarkets and shopping malls.

According to Alli, the group employs over 50,000 people, saying the company’s interest is to work with Nigerian farmers using local produce to ensure food security.

“Quality, affordability and hygiene are the watchwords of the company,” Alli told Buhari.

Adesina also said that the president held bilateral meeting with Hussain Al Nowais, chairman of Amea Power.

According to him, the company develops, owns, and operates thermal and renewable energy projects in Africa, the Middle East and Asia.

“Its wide range of power solutions include conventional – gas, coal, oil, and renewable – solar, wind and hydro,” Adesina said.

“Apart from power, the company, which owns Rotana Hotel chain, is also interested in the hospitality sector in Nigeria.”