The Federal Government of Nigeria has reiterated its interest towards keeping existing investors while also seeking to attract potential investors in the country.
Vanguard reports started that the announcement was made by the Minister of Industry, Trade and Investment, Adeniyi Adebayo, during the 2019 USA-Nigeria Business and Investment Summit held in Atlanta, Georgia, United States.
Adebayo who was represented by the Director of Infrastructure Investment and Policy Matters, Olajide Bamidele, said that Nigeria is committed to addressing issues of corruption, political instability and insecurity in the country.
He said that the government was fully aware of the challenges in the country’s investment and business environment and was making concerted efforts to tackle them.
Speaking further, Adebayo highlighted various reform initiatives by government to further ease the country’s business environment and protect investments. While stating that Nigeria’s improvement in the latest World Bank ease of doing business index, which has seen the country move 15 steps upward, was evidence of government’s efforts, he said the summit was timely, as it came amid the implementation of the Federal Government’s Economic Recovery and Growth Plan (ERGP).
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Adebayo also stated that the United States was key among 20 nations identified as critical to the actualization of the ERGP, hence the need for deeper economic and business ties between both countries.
While commenting during the summit, the Consul General of Nigeria in Atlanta, Aishatu Musa, urged Americans to invest in Nigeria saying it was a wise choice to make.
“Nigeria is Africa’s biggest economy and most populous nation with estimated Gross Domestic Products of 375 billion dollars, and a strong human capacity of about 200 million people. Nigeria is strategically positioned in the development equation of the West African sub-region and indeed the entire African continent.
“With all the indicators pointing to a desirable future, and abundant human and material resources, investing in Nigeria will not only be the right thing to do but the wise thing to do,’’ she said.
What you should know: The summit was a three-day event organised by the Nigerian consulate in Atlanta in collaboration with the ministry to promote investment opportunities in Nigeria. It hereby provided a platform for private and public sector players from both countries to exchange, compare policies, network and review economic relations, among others.
It also attracted officials of the host state of Georgia, American business leaders and entrepreneurs, and government representatives from Nigeria at the federal and state levels.