Dr. Isa Pantami, the Minister of Communications and Digital Economy, has disclosed that investing in Nigeria gives investors access to 550 million people in sub-Saharan Africa.
This statement was made by Dr. Isa Pantami while delivering his keynote address at the Africa Investment Forum (AIF) titled: “Nigeria’s Digital Economy: A Golden Investment Opportunity.”
The Minister who doubles as the leader of the Nigerian delegation at the 40th edition of the Gulf Information Technology Exhibition (GITEX), stated that Nigeria is both a geographic and an economic gateway to sub-Saharan Africa.
According to him, Nigeria has a prime location between West and Central Africa. He explained further that investment in the country’s economy gives investors easy access to close to 550 million people – 200 million from Nigeria, another 200 million West Africans, and about 150 million Central Africans.
Hence, investing in Nigeria is the best strategy foreign investors can deploy to strategically position themselves for the huge gains inherent in the African Economy.
He asked prospective investors to take full advantage of the opportunities inherent in Nigeria. As investments in the largest economy in Africa, with a GDP of $448 billion according to World Bank estimates, puts them in a much better position than investments elsewhere.
What they are saying
Speaking about the drivers that would help investors make impressive gains on their investments in the country, the Minister highlighted the recent free trade agreements, the recent policies of the Nigerian Government to aid digital revolution, and the innovative spirit of the Nigerian population.
He said: “Nigeria is part of the African Continental Free Trade Agreement (AfCFTA) and it gives us access to the African continent, covering an area worth over US$3 trillion in GDP and eliminates tariffs on 90% of goods traded across the continent. This is no doubt a unique opportunity for investors in Nigeria.
“The President of the Federal Republic of Nigeria, His Excellency, Muhammadu Buhari GCFR, launched and unveiled the National Digital Economy Policy and Strategy for a Digital Nigeria, based on the following 8 pillars – Developmental Regulation, Digital Literacy and Skills, Solid Infrastructure, Service Infrastructure, Digital Services Development and Promotion, Soft Infrastructure, Digital Society and Emerging Technologies, and Indigenous Content Development and Adoption.”
While speaking about how innovative Nigerians are and how the country is at the forefront of innovations across the world, Dr. Pantami said:
“Innovation is second-nature to Nigerians and there are so many Nigerians that have made their mark through innovative solutions that they have developed. A Nigerian-trained Doctor is credited to have played a leading role in the development of the Pfizer COVID-19 vaccine. Reports indicate that this vaccine is expected to pull in more than $8 billion in revenue by the end of 2021. Nigerians are very friendly people and our business environment is conducive.”
What you should know
- The Africa Investment Forum (AIF) is part of the official activities at the ongoing 40th edition of the Gulf Information Technology Exhibition (GITEX).