NewStats: 3,264,428 , 8,183,704 topics. Date: Wednesday, 11 June 2025 at 04:55 AM 35u4n

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 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/

Question is where and how did obasanjo get 700m dollars?

They will start fighting with propaganda now. They forgot Alphabeta.

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.

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.

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?

na lie

Omo See money,
if he's doing do investments outside shores then it's not a concern but a statement

Birds of the same feathers

Like Abacha, like obasanjo

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.

wakaman:
Question is where and how did obasanjo get 700m dollars?

If you ask me na who I go ask?

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

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.

wakaman:
Question is where and how did obasanjo get 700m dollars?

The matter no tire you my boss??

wakaman:
Question is where and how did obasanjo get 700m dollars?

Baba ijebu

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.

wakaman:
Question is where and how did obasanjo get 700m dollars?

They are politicians. Na we wey no get 20k for dey help them

Old taker!

Military did a lot damage to this nation


called



NIGERIA

BY STEALING STEALING STEALING STEALING STEALING our national cake.

Obasanjo, Abacha, Babaginda and abdulsalam.

wakaman:
Question is where and how did obasanjo get 700m dollars?

The play.

Where did Tinubu get his billions from?

Obasanjo is still investing heavily at his age.

The man has grace o.

Lol... you see Obi-dense people hailing that man like he's the next best thing.

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.

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.

This is largely

Fulani terrorists are destroying farmlands. What do you expect him to do?

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 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 ers ,very unfortunate zombies

This is somehow.

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.

wakaman:
Question is where and how did obasanjo get 700m dollars?

you haven't been to his ota farm

Thomthom:
They are politicians. Na we wey no get 20k for 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 number