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Obasanjo’s $700m Cameroon Investment Sparks Concerns Over Nigeria’s Business Cli by ijustdey: 8:56am On Apr 04
Obasanjo’s $700m Cameroon Investment Sparks Concerns Over Nigeria’s Business Climate


By Leadership News

Stakeholders have raised concerns over the investment climate in Nigeria following plans by the former President, Olusegun Obasanjo to invest $700 million (approximately N1.75 trillion) in Cameroon.

LEADERSHIP reported that the former President through his firm, Agro-Allied Business Ltd (OABL), will launch investment this April into strategic sectors; including agriculture, maritime logistics, hospitality and energy with significant operations centered around the Kribi deep-sea port.

OABL’s strategic expansion includes acquiring 610 hectares for maize and soybean cultivation, establishing fertilizer distribution and warehouse infrastructure and setting up a 10-hectare wood processing facility in Cameroon.

Additionally, the company will provide transshipment services to decongest Nigerian ports and construct oil and gas storage terminals for ship refueling.

A five-star hotel is also in the works to support regional business and tourism.

While the investment aligns with the African Continental Free Trade Area (AfCFTA) objectives, to foster intra-African trade and strengthen supply chains, stakeholders in Nigeria have expressed mixed reactions.

They believe that Obasanjo’s decision to invest in Cameroon serves as a reminder of Nigeria’s need to foster a more competitive and secure business environment.

Reacting to the development in a chat with LEADERSHIP, president of the All Farmers Association of Nigeria (AFAN), Kabir Ibrahim voiced concerns about Obasanjo’s decision to invest in Cameroon.

He stated that farmers would have been a lot happier if such funds had been injected into investment in Nigeria.

He warned that such moves could send the wrong signal to local farmers about the profitability and safety of agricultural investments within the country.

Ibrahim said, “I would have certainly been a lot happier if he invested this colossal sum in Nigeria. It might send the wrong signal to our farmers that the profitability and safety of investment in agriculture are higher there than here.”

Deputy director at the Centre for Food Safety and Agricultural Research (CEFSAR), Dr. Segun Adebayo, who spoke with LEADERSHIP while acknowledging the rationale behind the move but lamented Nigeria’s unfriendly investment environment.

“With the current security challenges in Nigeria, it is not surprising that a Nigerian investor would choose to take such an investment to a neighboring country. It is a win for Africa, but it’s unfortunate that we couldn’t facilitate such investments within Nigeria.

So with the African free trade, continental free trade agreement, the yield and the investment would benefit Nigeria eventually and other parts of Africa”.

Adebayo also pointed out that Aliko Dangote has similarly pursued major investments outside Nigeria, emphasising that if ease of doing business policies remain unfavorable, more investors may seek opportunities abroad.

https://leadership.ng/obasanjos-700m-cameroon-investment-sparks-concerns-over-nigerias-business-climate/

11 Likes 3 Shares

Re: Obasanjo’s $700m Cameroon Investment Sparks Concerns Over Nigeria’s Business Cli by wakaman: 9:06am On Apr 04
Question is where and how did obasanjo get 700m dollars?

236 Likes 23 Shares

Re: Obasanjo’s $700m Cameroon Investment Sparks Concerns Over Nigeria’s Business Cli by iwaeda: 9:10am On Apr 04
They will start fighting with propaganda now. They forgot Alphabeta. grin grin grin grin grin grin

69 Likes 7 Shares

Re: Obasanjo’s $700m Cameroon Investment Sparks Concerns Over Nigeria’s Business Cli by Honestey: 9:10am On Apr 04
That Nigeria is far better for such investment is not in doubt. It doesn't matter where anyone chose to go invest proceed of questionable Nigeria electricity generation and distribution contract.

31 Likes 5 Shares

Re: Obasanjo’s $700m Cameroon Investment Sparks Concerns Over Nigeria’s Business Cli by Sheuns(m): 9:10am On Apr 04
grin

These are signs that investing in Nigeria especially agriculture isn’t all that safe giving to the fact of rampaging herdsmen and destruction of farmlands.


The report says through his Agro Allied Business. He could have shareholders and investors. The money necessarily doesn’t have to be his.

67 Likes 4 Shares

Re: Obasanjo’s $700m Cameroon Investment Sparks Concerns Over Nigeria’s Business Cli by Oblongata: 9:10am On Apr 04
You tap from local pool, and eject it into another economy thereby creating a huge chunk of already many leakages to the detriment of the economy that favoured you? And you are supposed to be a hero?

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Re: Obasanjo’s $700m Cameroon Investment Sparks Concerns Over Nigeria’s Business Cli by frog12: 9:10am On Apr 04
na lie grin

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Re: Obasanjo’s $700m Cameroon Investment Sparks Concerns Over Nigeria’s Business Cli by Venom11(m): 9:10am On Apr 04
Omo See money,
if he's doing do investments outside shores then it's not a concern but a statement

4 Likes

Re: Obasanjo’s $700m Cameroon Investment Sparks Concerns Over Nigeria’s Business Cli by b0rn2fuck(m): 9:10am On Apr 04
Birds of the same feathers

4 Likes 1 Share

Re: Obasanjo’s $700m Cameroon Investment Sparks Concerns Over Nigeria’s Business Cli by TOPCRUISE(m): 9:10am On Apr 04
Like Abacha, like obasanjo

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Re: Obasanjo’s $700m Cameroon Investment Sparks Concerns Over Nigeria’s Business Cli by ImpartialGuy: 9:10am On Apr 04
Obasanjo was a broke man when he was released from prison and asked to become president in 1999. Where did he get $700m from? He even had the guts to write unprintable stuff about Atiku in his book. Nigerian politicians are some of the worst in the world.

83 Likes 9 Shares

Re: Obasanjo’s $700m Cameroon Investment Sparks Concerns Over Nigeria’s Business Cli by belikewater: 9:10am On Apr 04
wakaman:
Question is where and how did obasanjo get 700m dollars?

If you ask me na who I go ask? lipsrsealed

6 Likes 2 Shares

Re: Obasanjo’s $700m Cameroon Investment Sparks Concerns Over Nigeria’s Business Cli by Sonofgod1990(m): 9:11am On Apr 04
wakaman:
Question is where and how did obasanjo get 700m dollars?
Go and ask ya grandfather. Little boy
What is 700m dollars?
I'm not even a politician and i have about 300 million dollars and you are there thinking 700m dollars is a big money. Make una hustle una say no

12 Likes 2 Shares

Re: Obasanjo’s $700m Cameroon Investment Sparks Concerns Over Nigeria’s Business Cli by kingi777: 9:11am On Apr 04
Most businesses are going through multiple taxation in Nigeria especially FCT. Environmental, fumigation, certification of fitness of your premises, tenement rate, sign board, television tax all under the council areas. Then you pay to FCT HHSS, pay annual license of your private facility to your regulatory council, pay your personal license, pay for your professional development etc. The worse is the local government people that extort money without carrying out the fumigation, or the certificate of fitness without doing anything or environmental that extort money without carrying out the waste. There has to be a way to regulate these multiple taxation in order to encourage small scale businesses.

18 Likes 2 Shares

Re: Obasanjo’s $700m Cameroon Investment Sparks Concerns Over Nigeria’s Business Cli by Gyri(f): 9:11am On Apr 04
wakaman:
Question is where and how did obasanjo get 700m dollars?

The matter no tire you my boss??

7 Likes

Re: Obasanjo’s $700m Cameroon Investment Sparks Concerns Over Nigeria’s Business Cli by jeff1607(m): 9:11am On Apr 04
wakaman:
Question is where and how did obasanjo get 700m dollars?

Baba ijebu

2 Likes 1 Share

Re: Obasanjo’s $700m Cameroon Investment Sparks Concerns Over Nigeria’s Business Cli by Obakoolex(m): 9:11am On Apr 04
All Nigerian politicians have the same ideology... Fortune first, family legacy second!!!

Citizens are tertiary to the good ones among them.

That's why they always become so unquestionably wealthy after leaving office.

181 Likes 1 Share

Re: Obasanjo’s $700m Cameroon Investment Sparks Concerns Over Nigeria’s Business Cli by Thomthom(m): 9:11am On Apr 04
wakaman:
Question is where and how did obasanjo get 700m dollars?
They are politicians. Na we wey no get 20k for Account dey help them

1 Like

Re: Obasanjo’s $700m Cameroon Investment Sparks Concerns Over Nigeria’s Business Cli by Zion243(m): 9:12am On Apr 04
Old taker!

8 Likes

Re: Obasanjo’s $700m Cameroon Investment Sparks Concerns Over Nigeria’s Business Cli by dododawa1: 9:12am On Apr 04
Military did a lot damage to this nation


called



NIGERIA

BY STEALING STEALING STEALING STEALING STEALING our national cake.

Obasanjo, Abacha, Babaginda and abdulsalam.

21 Likes 6 Shares

Re: Obasanjo’s $700m Cameroon Investment Sparks Concerns Over Nigeria’s Business Cli by cenaman(m): 9:12am On Apr 04
wakaman:
Question is where and how did obasanjo get 700m dollars?
The play.

Where did Tinubu get his billions from?

26 Likes 1 Share

Re: Obasanjo’s $700m Cameroon Investment Sparks Concerns Over Nigeria’s Business Cli by datola: 9:13am On Apr 04
Obasanjo is still investing heavily at his age.

The man has grace o.

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Re: Obasanjo’s $700m Cameroon Investment Sparks Concerns Over Nigeria’s Business Cli by haybhi1(m): 9:13am On Apr 04
Lol... you see Obi-dense people hailing that man like he's the next best thing.

14 Likes 2 Shares

Re: Obasanjo’s $700m Cameroon Investment Sparks Concerns Over Nigeria’s Business Cli by flokii: 9:13am On Apr 04
Just like Atiku that invested billions of dollars in Dubai.. Obj too wants to follow suit.
The only time they think Nigeria is during politics and elections, how they will contest and win elective offices so they can pack even more.
Steady looting.

24 Likes 4 Shares

Re: Obasanjo’s $700m Cameroon Investment Sparks Concerns Over Nigeria’s Business Cli by Babangidapikin: 9:13am On Apr 04
wakaman:
Question is where and how did obasanjo get 700m dollars?
he is investing na ... Farmers will break back to farm under sun, someone would crash price ,spoil business plan and you expect investors in that sector.

6 Likes

Re: Obasanjo’s $700m Cameroon Investment Sparks Concerns Over Nigeria’s Business Cli by Egbeburu: 9:14am On Apr 04
This is largely

3 Likes

Re: Obasanjo’s $700m Cameroon Investment Sparks Concerns Over Nigeria’s Business Cli by Beremx(f): 9:14am On Apr 04
Fulani terrorists are destroying farmlands. What do you expect him to do?

14 Likes

Re: Obasanjo’s $700m Cameroon Investment Sparks Concerns Over Nigeria’s Business Cli by Kingpele(m): 9:14am On Apr 04
Steal from Nigeria and invest in neighbouring countries... this is the mindset of majority of our politicians ,don't steal small money, steal big money that will even intimidate anti craft agencies and flex money for life...this obasanjo in 1998 had less than 100k in this account but after 8years of his presidency he became a trillionaire, someone who spent all his life in the military....and this is the reason Tpain is inflicting hardship on Nigerians so as to be richest president Nigeria ever had....such vain mindset with ignorant zombie supporters ,very unfortunate zombies

6 Likes 1 Share

Re: Obasanjo’s $700m Cameroon Investment Sparks Concerns Over Nigeria’s Business Cli by albert2512: 9:14am On Apr 04
This is somehow.

3 Likes

Re: Obasanjo’s $700m Cameroon Investment Sparks Concerns Over Nigeria’s Business Cli by EdiskyHarry: 9:14am On Apr 04
The father of corruption in Nigeria. The day democracy came back to Nigeria in obasanjo's tenure would have been a turning point for Nigeria, but unfortunately it landed on the wrong individual.

19 Likes

Re: Obasanjo’s $700m Cameroon Investment Sparks Concerns Over Nigeria’s Business Cli by Saao(m): 9:14am On Apr 04
wakaman:
Question is where and how did obasanjo get 700m dollars?
you haven't been to his ota farm

4 Likes

Re: Obasanjo’s $700m Cameroon Investment Sparks Concerns Over Nigeria’s Business Cli by Sonofgod1990(m): 9:14am On Apr 04
Thomthom:
They are politicians. Na we wey no get 20k for Account dey help them
I could have loved to help you with some money but some hungry mods will block me if i ask of your account number

2 Likes 3 Shares

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