Obasanjo dismisses alleged plan to exit DRC-Nigeria Business Council

Former Nigerian president and patron of the Democratic Republic of Congo, DRC-Nigeria Business Council, Olusegun Obasanjo has disclosed that the impressive report of the Council barely two years after its formation, would propel him to stay with the body.

The council was formed to cultivate a conducive environment for investment and collaboration between the two countries.

Obasanjo who spoke at the stakeholders meeting of the Council in Lagos at the weekend, asserted that the reports from the sectors were fascinating and encouraging, with room to do more.

In a statement by his Special Assistant on Media, Kehinde Akinyemi, on Tuesday, Obasanjo said: “With the progress I have got this evening, I am not going anywhere. Like we said, we are making progress, but, there is still room for more progress,” he stated.

The President of the Council, Dr Nteranya Sanginga had hinted that with the efforts of the body so far, the African capital will stand if they work together.

In his goodwill message, the President of the DRC, Felix Tshisekedi, represented by the Vice-Prime Minister, Daniel Samba, said “the President has a direct interest in the drive for a favourable investment climate from investors among the two great countries”.

Reflecting on the progress made by the Council, the Secretary, Amb. Robert ‘Leke Adebiyi highlighted several notable achievements that demonstrate the progress made. “Firstly, the Council has successfully identified key investors who have subsequently joined our ranks, enriching our diversity and expertise. The expansion of membership signifies the growing interest and confidence in the opportunities that the DRC offers.

“Subsequent to our membership growth, we convened fruitful meetings in both Kinshasa and Lagos, focusing on thematic areas ripe for investment. These include oil and gas, energy, mining, agriculture, urban development, and transportation—sectors that hold the potential to drive significant economic growth and development in our nations.

“Additionally, our decision to establish an office in GRA Ikeja, Lagos, symbolizes our commitment to ensuring effective communication and collaboration among our members. This strategic location will serve as a hub for meetings and facilitate the sharing of vital information and resources to propel our initiatives forward.

“One of the major highlights has been the commitment of one of our esteemed members, Alhaji Aliko Dangote, to invest in the DRC, specifically in mining and agriculture. His willingness to explore these avenues is not only a testament to the potential that the DRC holds but also serves as a beacon of inspiration for other members to follow suit. Moreover, members from other sectors, predominantly oil and gas, mining, and energy, have made significant strides in initiating their investment ventures in the DRC, which we celebrate today”.

Adebiyi, however, acknowledged that the journey has not been devoid of challenges, saying ”some Council members continue to navigate hurdles related to gaining full support from the DRC Investment Regulatory Commission. We recognize that the bureaucratic processes can be lengthy and cumbersome, creating barriers for investors striving to contribute to the DRC’s growth”.