Obasanjo to invest in Ethiopia

  1. Posted on Wednesday 30 December 2009 - 16:00
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    Andualem Sisay, AfricaNews reporter in Addia Ababa, Ethiopia
    Former Nigerian President Olusegun Obasanjo, is to invest in Hotel and tourism sector of Ethiopia and has since secured a 2,000 square meter of land near Bishoftu (Debre Zeit) town of Oromia Region called Ada.
    olusegun obasanjo nigeria_delta_campaign
    The former Nigerian President has taken the land two months a go and he is now about to implement his investment on the land located 50 Kilometers east of the capital -Addis Ababa, www.newbusinessethiopia.com reported.

    Obansanjo’s intention to invest in Bishoftu has come following the footsteps of Djibouti’s president, Ismael Omar Guelleh, who took 10,000 square meters of land last year to build holiday home in Bishoftu and also bought 3,000 square meters of land for agriculture in Bale, Oromia Region of the country.

    After Bishoftu town’s administration approved anew master plan last year, many investors are now investing in the town, which is known for its eight unique lakes.

    Ethiopia and Nigeria’s relation has been growing especially after 2006. The first Ethiopia-Nigeria Joint Ministerial Commission Meeting was held from April 26 - 29, 2006 in Addis Ababa, where areas of cooperation for the mutual benefits of the two countries were identified.

    Following that from 8 to 10 October, 2006 President Olusegun Obasanjo paid a three day state visit to Ethiopia, which enabled him to visit a flower farm in Bishoftu area.

    Prime Minister Meles on his part visited Nigeria from 28 - 29 October, 1996 where agreements were signed relating to economic, scientific and technical cooperations.

    Both sides expressed their willingness "to develop and expand trade relations and to create favorable conditions for substantial and harmonious diversification of trade between the two countries on the basis of equality and mutual benefits."

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