Minister Reasures On Reduction Of Business Cost

The Minister of Trade and Investment, Mr Olusegun Aganga, last Thursday reiterated the Federal Government’s commitment to reduce cost and time of doing business in the country.

Agagnga said this at the opening ceremony of the Lagos-Kano-Jibiya (LAKAJI) Agricultural Growth Corridor Investment Summit in Abuja, organised by the United States Agency for International Development (USAID).

“For the first time in the country’s 53-year history, the power sector has been completely privatised.

“And as you are aware, we already have a Memorandum of Understanding (MoU) for another 10,000 megawatts of power plant.”

The Tide reports that the LAKAJI initiative, USAID’s new activity, hopes to build on the U.S. previous support to improve trade efficiency in Nigeria.

It also hopes to support trade facilitation, transport, and agribusiness investment intervention and is being implemented through the Nigeria Expanded Trade and Transport (NEXTT) activity.

The initiative prioritises work along the LAKAJI corridor, which is a major overland cargo transport route in the country.

According to Aganga, the initiative is a key intervention that can affect the Nigerian economy positively.

He urged investors to invest in the LAKAJI corridor, saying that it cut across 10 States of the federation.