Nigeria and Sri Lanka explore supply of Sri Lankan products to booming economies in Nigeria
Nigerian national Wafailu Bello, President/CEO of Bellmari Group and former Group General Manager of Dangote Industries Limited, was in Sri Lanka to have business to business (B2B) meetings with Sri Lanka’s Idea Group Ltd., Sri Lanka’s state owned English Daily News reported.
Wafailu Bello is a brother of Aliko Dangote, the world’s wealthiest Black national.
According to the news report, the objective of discussions between Sampath Mayakaduwa, Chairman/CEO of Idea Group Limited and Wafailu Bello, was to seek possibilities of supplying ‘Idea’ products to the booming economies of Nigeria and its neighbouring countries.
They have reportedly discussed a market development (entry) strategy, focusing Nigeria and neighbouring countries.
Accordingly, they have witnessed the possibilities of capturing the Nigerian market for Idea products particularly, to cater to the growing construction industry in above countries.
Idea Group Ltd., is a Sri Lankan conglomerate with diversified business ventures, specializing in building material, catering to both local and export markets under the brand names of: i-Panel, i-Roof and Kalahari.
A spokesman from Idea Group who is a senior manager said has been quoted as saying that the business discussions were fruitful and Idea products would be exported to Nigeria and its neighbouring countries in the near future.
The Bellmari Group has business interests in energy, lubricants, maritime support services, commercial farming and logistics sectors.
OSL take:
The exploring of business ventures between Sri Lanka and Nigeria as well as neighbouring countries in the region is indicative of the strength and growth of Sri Lanka’s private sector as well as the growing business potential in the country. Sri Lanka’s geographical positioning in the Indian Ocean, the country’s many trade agreements as well as trade concessions, the ongoing development drive and the ease of doing business environment have all made Sri Lanka the ideal business destination in the South Asian region. Therefore foreign businesses/investors could explore business/investment opportunities in Sri Lanka as well as the possibility of forming partnerships with local companies.
| Article Code : | VBS/AT/02082019/Z_6 |