By David Rupiny
Nigerian investors have expressed interests in investments in Uganda worth 3.8 billion dollars (UGX14.6 trillion).
The investment interests spanning sectors like cement, manufacturing, fertiliser production and livestock were announced during the Uganda-Nigeria Business Forum and Exhibition in Kampala, Uganda.
According to Dr. Sam Omara, the officer in charge of economic and commercial diplomacy at Uganda’s High Commission in Nigeria, the company interested in cement production has already dispatched engineers to Uganda to assess potential locations for a clinker plant and identify sources of commercially viable limestone.
One Nigerian company is planning to set up a fertiliser plant worth 800 million dollars, while another is interested in purchasing one-year-old female Ankole cows, renowned for having veal which is low in cholesterol.
Speaking on behalf of the Nigerian investors, Chief Michael Awunor, said there are several Ugandan products that can be exported to Nigeria and products Nigeria can export to Uganda. He called for a Joint Permanent Commission framework to be signed between the two countries to facilitate trade and investment.
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