By Romano Pisciotti

“We are children of our fertile land, sons of the great river and the fresh salty breeze blowing on the lagoon, we are the daughters of the green hills and the silent desert: we are all sons and daughters of Greater Nigeria.”
Romano Pisciotti

In recent decades, NIGERIA has shown growth in the industrial and agricultural sectors, but its economy still depends on the oil sector. A country of over 180 million inhabitants cannot base its economy solely on the oil sector, especially since its crude oil production often fails to reach the annual quotas assigned to it by OPEC and, above all, the oil & gas supply chain in the country it has not managed to complete itself and express its potential. It is not the objective of this report to analyse the causes of the failure to fully exploit oil, gas reserves and refining capacity….. all issues that can be dealt with separately.

Population growth requires the development of a large employment base in industry, services and agriculture to ensure a prosperous future for the country, consolidating both the ruling class and the middle and working class. Welcoming the enormous mass of young people into the world of work must be a political duty and a priority for the whole country.
Despite a certain slowdown in demographic projections compared to past decades, Nigeria could, however, reach worrying levels of population growth if not followed by solid GDP growth.

All of Africa is already subjected to demographic stress, which, since it cannot be resolved with mass emigration, creates enormous problems in the economies of many states. European countries experience the opposite problem: low birth rates, but even these countries will not be able to solve the problem with immigration alone! Even if announced by many, it will not be possible to reach biblical levels of migration: no European country is willing to totally abdicate the “new invasions”, nor does Africa want to return to being the cultivation basin of raw materials and manpower! Reason, conscience and pride will not allow any type of neo-colonialism on the land of Africa!

The globalization of well-being is much slower than economic globalization, therefore, only an internal political- economic push will be able to harmonize investments and development with well- being in “Greater Nigeria”.
If it is banal to say that there cannot be development of a country without industrial and technological development, it does not seem very obvious that the development of a country must pass through education and the acquisition of knowledge.

A population that grows only numerically risks only increasing pockets of ignorance and poverty.
The fundamentals of a country’s development are:
1) Industrial investments and rapid technical growth for managers and workers who are today the vanguard of the country’s growth. 2) School and university learning for young people who tomorrow will be the architects of the solid development of human society and industrial and technological society.

The Internal Market will fuel continuous growth for many decades, unlike countries defined as “Western” or “developed” which have already saturated their domestic markets. The hunger for industrialization and development of a huge and populous country like Nigeria is, for the “West”, the natural outcome… as it has been for decades.
However, the laws regarding “Local Content” must limit the onslaught of foreign industry and find the right balance between the import of goods and the import of knowledge and technology. I don’t feel like I’m saying new things, but this balance has often remained a hope.

Nigeria is certainly not an “easy” country: drawn on a map uniting totally different ethnic groups, religions and geographical environments… but its large extension, its biodiversity and its people are a continental force, not just a national one! A homeland that must listen to the message of peace and justice of its national anthem, addressed to ALL compatriots!!!

Such a large, varied and populous nation cannot develop by dispersing possible resources throughout the territory: if I have a handful of rice I won’t feed everyone, if I grow that little rice I will ensure meals for more and more people.
This is the basis, the principle, of the “ISLAND THEORY”…and on the “islands” I will be able to grow rice or wheat or fruit, choosing the most correct sowing method for a given environment.

Despite good intentions, too often, in the search for solutions favourable to development, the mistake of a too broad and generalized approach has been made: history has shown that massive and generalized interventions, over a large part of a country, rarely lead to to an equally generalized benefit in terms of safe and constant growth, just as they do not lead to equitable redistribution.
In the past we have seen the famous Soviet five-year plans fail (or at least fall short of their promises). Just as the so-called “battles” for development have never achieved the desired results, often due to having concentrated on the objective without involving all sectors of the economy in that mission.

The results of these “battles” have certainly given some advantages, but too often to the detriment of other sectors and, just as often, the rush for the result does not give time for a clear and correct analysis of the starting
In China, after abandoning Maoist policies, the development plans covered only some areas; these areas have become so large as to guarantee robust development for the entire nation. The industrial and social gap will be narrowed with the creation and development of other areas. The Communist Party has abandoned part of its origins and has specialized industrial areas connected, step by step, by excellent infrastructure.
In the USA, the creation of a “technology park” (or island) where all the economic and human resources were concentrated (Silicon Valley) was the success factor, subsequently granting the planetary distribution of the results.

In Nigeria, tax levers and customs duties have been used for some time to encourage industrial development based on local content. We have mainly seen two solutions: the customs discount offered only on the basis of local production or the creation of free zones.
For the first case we can take as an example the reductions in duties for truck assemblers: the results were only good to a superficial observer. In the country there are more than ten companies that have had access to this customs discount and other tax benefits, in reality many of these companies have stopped at “screwdriver technology”, that is, they have limited themselves to assembling finished truck parts, often even pre-assembled beyond the established rules.

The ease of these operations has led to a counterproductive proliferation of assemblers who, in addition to not having adequate assembly lines or permanently employed personnel, have created a spot and fractional offer. (Do not confuse this with the competitive spirit; this way of operating is closer to fraud).
Few companies have actually invested in assembly lines, learning to assemble ever smaller parts and making the most of new technologies; these few companies will be able to form a supply chain for the local production of some parts for the original equipment or spare parts. These companies have created a unique island with good potential.

The second case, that of free zones, is the one with the highest potential. It should be noted that some truck assemblers have actually chosen a free zone as their operational base.
Naturally, not all free zone experiences have been success stories, there are many causes of failure: the lack of an entity responsible for the operation, capable of choosing and coordinating the most fruitful activities for that specific area, or the choice of area too difficult, or too expensive, to reach even with the best possible logistics.
I know very well two free zone: Lekki and Onne.

In both cases we had a coordinating body and investors interested in attracting other investors; both free zones have built or expanded a port area (to connect with the rest of Nigeria and the world), have attracted other production and service companies (creating an internal supply chain), have made massive private and state investments, they have built impressive infrastructures, they have employed local and foreign personnel (foreigners who bring knowledge and pay their taxes in Nigeria and spend locally for their needs), an impressive economy has developed in the surrounding areas.
I gained experience in the free zone of Onne and I can testify to the massive integration that has developed over time with the local population, schools and hospitals.

There were thousands of local workers, in various sectors related to offshore, as well as construction and services.
Local supplies ranged from raw materials, such as tons of iron ore for pipe lining, to fruit and vegetables for internal canteens and private homes.
In the free zone boats were built, the assembly had already been overcome long ago! State-of-the-art vehicles operated on the piers… all maintained in WAMS and the agreements with IVECO had already been signed to create a truck assembly line. Anyone who knows about coating for large diameter pipes will be able to understand what it means, for PCN, to obtain worldwide approval from Mobil for 5-layer coating… the only company in all of Africa!

The creation of a gas power plant capable of serving all of Onne had already been studied, while the new hotel with the conference center was already a reality. In WAMS, a professional school was already planned to train electricians and mechanics… all significant investments, certainly for the benefit of investors (foreign and Nigerian), but with full local enjoyment.
Onne, what I call “island”, had already produced investments and economic synergies in nearby Port Harcourt and in Lagos as well as in Warri… Here is the birth of other islands or their expansion, spreading and combining in jobs, acquisition of knowledge, international affairs at the service of the best politics and, consequently, of the whole country!

In a free zone, foreign investors feel more guaranteed and protected from tribal (uses and habits) or religious issues or any local controversy which, not knowing, they fear. Obviously the Government must monitor its own interests and the investors themselves, also using internationally recognized third parties.
Governance, understood as a set of principles, rules and procedures that concern the management and governance of a society, therefore plays a fundamental role in the push towards sustainable transformation and, in general, towards all processes of change and innovation.

The splendid rise of the Onne free zone has experienced a major setback… and the causes or faults can be discussed, but there are many things to consider:
1) Alltheinvestmentsmade,thelogistical organization, the monumental piers, villas and palaces, warehouses and industrial structures are there and they are a reality.
2) The country’s industrialization needs have not disappeared, on the contrary, they are even more pressing.
3) The thousands of former employees and new potential workers are waiting for answers.
4) There is no shortage of investors for good proposals.


Thank you for your attention, Best Regards
Romano Pisciotti


L’attacco della Russia all’Ucraina e le sanzioni di ritorsione dall’Occidente potrebbero segnalare una buona notizia per le economie legate ai petro dollari come la Nigeria. Il Brent, l’indicatore del petrolio greggio nigeriano, ha superato i 100 dollari al barile per la prima volta dal 2014.

Con l’escalation della crisi Russia-Ucraina, le materie prime come il grano e il mais dovranno affrontare interruzioni dell’approvvigionamento e l’ aumento dei prezzi.

L’effetto a catena sarà pesante per le aziende nigeriane che operano nel settore alimentare che attualmente stanno già affrontando un aumento dei costi di produzione a causa della volatilità del range di cambio.

I dati commerciali hanno mostrato che Egitto, Turchia, Bangladesh e Nigeria erano le principali destinazioni del grano russo nel 2019 e la tendenza non è cambiata.

Il conflitto minaccia la più grande economia africana, la Nigeria, a causa del costo dei prodotti alimentari a base di grano.

La Nigeria, a causa della bassa capacità di raffinazione del grezzo è costretta ad importare benzina e gasoli, il Governo sostiene l’economia calmierando il prezzo di questi prodotti con massicci aiuti.

Lo sviluppo di questa situazione potrebbe significare un aumento del costo della vita per i 250 milioni di abitanti della Nigeria ed esporre ulteriormente la persistente incapacità del paese di trasferire le fortune petrolifere alle realtà economiche, nonostante la sua ricchezza energetica.

La nuova mega raffineria di Dangote dovrebbe entrare in funzione quest’anno, se non subirà ulteriori ritardi, questo dovrebbe permettere al Governo di eliminare totalmente l’enorme spesa per calmierare i prezzi di benzina e diesel.

Le prospettive a medio termine dell'Africa sembrano più ottimistiche con 1,2 milioni di barili al giorno (mb/g) di nuova capacità prevista entro il 2026, metà della quale sarà rappresentata dal progetto di raffineria 650.000 bpd Dangote oil project in Nigeria, che dovrebbe entrare in funzione nel 2022"

Romano Pisciotti


War Risk Insurance: Again, Nigeria makes case for removal of punitive shipping fees
Nigeria has continued to press for the lifting of the War Risk Insurance (WRI) imposed on vessels delivering goods and merchandise to Nigeria due to fears of insecurity.



Why should you invest in Nigeria?

There are many reasons why you should consider investing in Nigeria. Nigeria is the largest economy in Africa ahead of South Africa, Egypt and the rest. With so many opportunities for growth, PwC has projected Nigeria among the top world economies in 2050 ahead of Italy, Canada, South Korea, Spain, Netherlands, Australia and others.

With over 200 million people….the best deal is to provide the food!!

Agriculture accounts for 33 percent of GDP and provides employment, both formal and informal, to more than 60% of the population.

However crop production dominates the agricultural sector and accounts for about 85 percent of agricultural activities; livestock and poultry accounting for 10 percent, fisheries and forestry, less than one percent…

…but rapidly growing.

There is a growing demand for animal protein in Nigeria!

Poultry production has not kept pace with the rapid increase in domestic consumption.

There is enormous potential for the poultry industry in Nigeria to enhance food and nutritional security, while contributing to household and economic growth.

There is no more efficient place to invest than in pullets. Pullets are the future of an integrated company. Successful pullet rearing is simply attention to detail, management, serology, biosecurity, vaccination, and worming.


Presented by Romano Pisciotti

Nigeria – FDI: foreign direct investment

We all know that Nigeria is Africa’s largest economy, and with a population of 200 million people, one with huge potential for growth. It is therefore a country of the significant potential for foreign direct investment and foreign investors. But, for several reasons including a weak macroeconomic environment, policy inconsistency and the absence of a well-defined strategy for FDI as a component of economic growth strategy, FDI into Nigeria has declined markedly in the past several years.

Nigeria’s strategy for FDI
1. First, have a strategy: the priority sectors for the governments at federal and state levels need to be clear. The quality of investment, the quality of the government structure that handles FDI and formulates investment policy, and measurable, long term objectives regarding FDI and performance management regarding the contribution of FDI to economic development, are essential. These should be woven into a single thread that becomes the basis for execution, communication and engagement with potential investors.

2. Develop factor endowment: with skilled human capital as a priority need, strategies for FDI must focus on this frequently neglected objective. The presence or absence of productive knowledge in a society is the most important foundation for economic transformation, which remains necessary for a country such as ours with an economy still in need of diversification.

3. Align FDI with a transformational paradigm shift, for example away from extractive industries or towards value-added derivatives of such industries.

4. Improve national coordination of FDI activities between national and sub-national units.

5. Offer strong investor protections: Legal regimes in Nigeria must be adapted to facilitate increased flows of high-quality investment, in particular in light of regional trade realities such as ECOWAS, and now the African Continental Free Trade Area (AfCFTA). Beyond this, Nigerian authorities – and foreign investors- should incorporate political risk guarantees into major FDI agreements. This includes making use of guarantees offered by the World Bank Group’s Multilateral Investment Guarantee Agency (MIGA) for losses relating to currency inconvertibility and transfer restrictions, expropriation, terrorism, war and civil disturbances, breaches of contract, and failure to honour sovereign financial obligations.

6. Partial Risk Guarantees offered by the World Bank’s International Development Association (IDA), the arm of the Bank that leads to low income and lower-middle-income developing countries, cover an even more extensive range of situations than MIGA products. They can support participants in private projects such as Build-Operate-Transfer (BOT) and concession projects, public-private partnerships (PPP), and privatizations.

7. Improve the quality of governance and institutions: Assessments of governance and institutional capacity to create a sustainable investment environment play an important role in attracting quality investment.
The Nigerian Investment Promotion Commission (NIPC) has done a good job in recent years despite a difficult macroeconomic environment, including in terms of revenues it has generated for the Federal Government from foreign investments into Nigeria. I know from personal experience that, despite the early stages of the security challenges from terrorism, the Central Bank of Nigeria’s far-reaching reforms in the banking and financial sector which stabilized the sector after the global financial crisis of 2008, contributed to marked increases in FDI into Nigeria from 2009-2014. These reforms led to improved ratings of Nigerian by agencies such as Standard and Poor’s, Fitch, as well as the inclusion of Nigeria in the JP Morgan Africa Emerging Market Bond base Index alongside South Africa, which was previously the only sub-Saharan African country on the index.

Address by Professor Moghalu, President & CEO, Sogato Strategies LLC, Former Deputy Governor, Central Bank of Nigeria at the United States-Nigeria Investment Summit held in New York City, recently.

Presented By Romano Pisciotti

NIGERIA: Bio-fortified Crops, sustainable but not sufficient


In Nigeria, climatic zone is divided into three main categories: a tropical forest from the south to the north; a savanna in the middle with 800 to 1,200 mm of annual rainfall; and a Sahel, semi-arid land in the north, with 300 to 800 mm of annual rainfall. There are two climatic seasons, rainy season (May to October) and dry season. Since agricultural production mainly relies on rainfalls, the crop cultivation is influenced by seasonality and the amount of rainfalls every year.

In addition to the climatic influence, product losses due to storage and transport methods must be considered.

The result is a lack of vitamins to which is added a very deficient situation for the supply of animal-derived proteins (poultry, etc.). Intensive animal breeding is under development, but due to the precariousness of agricultural supply and for the health situation, the sector must be developed with the support of controlled nutrients for animal welfare and an increase in production.


Presented by Romano Pisciotti


In Nigeria, 40–50% of fresh fruits and vegetables
are lost during crating, transportation, storage and processing. In the tomato sector, for instance, it is estimated that more than 40% of tomato production does not reach consumers.

One of the main reasons for this massive waste is the lack of a temperature-controlled supply chain— known as cold chain—which prevents fresh foods from spoiling between farm and market. Tomatoes, for example, must travel long distances as they are largely grown in the north of the country, but mostly consumed in urban centres in the south.

A higher, quality and more predictable supply ultimately means more stable prices for consumers and a good deal in logistics.

Motor Parts Industry



231 Moshood Abiola Way, Ijora (Old Apapa road)

Lagos – Nigeria

Romano Pisciotti


Land of Fire: Divine forces flowing to the sea in crystal rivers between lava rocks and deep lakes, invisible to mortals and to the envious Moon; theatre of magnificence for the Deities that reign the Earth, battlefield for the splendour of the God who rules the waves: infinite clash for the power of beauty.

Romano Pisciotti

Terra del fuoco: Divine forze scorrono al mare in fiumi di cristallo tra rocce di lava e laghi profondi, invisibili ai mortali e alla Luna invidiosa; teatro della magnificenza per le Divinità che regnano la Terra, campo di battaglia per lo splendore del Dio che regna le onde: infinita battaglia per il potere della bellezza.

Romano Pisciotti


To build, renovate, decorate and furnish


INFO IN NIGERIA: Romano Pisciotti, mail to



Cold Compaund: Following the distillation of cereals, we proceed with the cold infusion, with different timing, of the botanists. At the end of the process, these come next
assembled according to a recipe that is the result of sixty-seven infusion tests.
Handcrafted in small quantities and without additives in Santa Venerina, at the foot of the Etna volcano, in the oldest Sicilian distillery of Mastro Mariano.


Antichi Vinai wines are born from the secrets and passion for the vine.

For four generations the Gangemi family has been dedicated to viticulture and to the enhancement of Sicilian indigenous vines, especially Etna. In one hundred years of work in the vineyards on the slopes of Etna and in the aging cellars, experience has been added to the passion, to experience the technology, to give admirers of Sicilian wines great certainties to savor.


Etna was the first controlled designation of origin to obtain the
recognition of the designation of origin, the Doc Etna, in fact, was
recognized with DPR of 11.08.1968 published in the Official Gazette of 25.09.1968.

Furthermore, the disciplinary has remained intact since the year of its drafting, maintaining
unchanged the forecast of the indigenous vines of the volcano, for production

Etna doc in its types Red, Rosé, White and Superior White.
The production area of ​​the designation of origin covers part of the territory
of the municipalities of Aci, Sant’Antonio, Acireale, Belpasso, Biancavilla, Castiglione di
Sicily, Giarre, Linguaglossa, Mascali, Milo, Nicolosi, Paternò, Pedara, Piedimonte
Etneo, Randazzo, Sant’Alfio, Santa Maria di Licodia, Santa Venerina, Trecastagni,
Viagrande and Zafferana Etnea, on the slopes of Etna, in the province of Catania.



Via Castiglione, 49
95012 Passopisciaro (CT), Italy

Tel. +39 0942 983232
Fax. +39 0942 983218
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INFO IN NIGERIA: Romano Pisciotti, mail to