Nigeria’s Minister of Industry, Trade and Investment, Mr. Niyi Adebayo, has said that Nigeria is actively working to attract more foreign direct investments into key industries to meet the demands of the African Continental Free Trade Area (AfCFTA).
This was disclosed by the Minister on Thursday at the virtual Nigerian-British Chamber of Commerce (NBCC) Global Investment Conference, themed “The future of Trade and Investment in Africa.”
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This morning, the Honourable Minister @NiyiAdebayo_ , spoke at the virtual Nigerian-British Chamber of Commerce(NBCC) Global Investment Conference, themed “The future of Trade and Investment in Africa”.
The conference focused on three broad elements that will spur economy… pic.twitter.com/DqvUp6zl0J
— FMITI Nigeria (@TradeInvestNG) September 17, 2020
The event covered 3 key areas that will boost trade between Nigeria and the UK. They are: The African Continental Free Trade Area, Foreign Direct Investment and Economic Risk and Accessing finance for increased trade and investment.
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“As we gear up to meet the demands of the enlarged continental market which will be fostered by AfCFTA, we are actively working to attract more foreign direct investments into key industries,” the Minister said.
The Minister added that Nigeria’s investment priorities are:
- Promoting digital economy, “considering its potential for growth, job creation and mitigating the impact of Covid-19.”
- Domesticating production through various sectoral backward integration plans.
- Exploring opportunities to boost renewable energy financing across the country.
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He urged that Nigeria should remain committed to implementing the initiatives to enable the country become a suitable environment for investment and strategic trade relationships.