Market News

By Leon Usigbe - Abuja 

Nigeria still remains the most viable and attractive investment destination in Africa, President Muhammadu Buhari has said, noting that the country is on the path of becoming the continent’s leading industrial and trading nation.

He made the declaration in Dubai Saturday in Dubai while addressing a trade and investment forum at Dubai Expo 2020, organised by the Nigerian Arabian Gulf Chamber of Commerce, Nigeria’s Ministry of Industry, Trade and Investment and the Nigerian Investment Promotion Commission (NIPC).

He said Nigeria is reaping from the efforts his administration has made to consciously improve the investment environment.

A statement issued by Femi Adesina, Special Adviser to the President (Media & Publicity) quoted him as saying: ‘‘Nigeria’s pavilion at the Expo 2020 clearly shows why we remain the most viable and attractive investment destination in Africa.

‘‘Our location, our natural resources, our population, and our regulations are there for all to see. Nigeria is on its way to become a leading industrial and trading nation in Africa.

‘‘To achieve this, our Government focused on policies, projects and programs that support private sector investors.

“We introduced numerous fiscal incentives and infrastructure projects aimed at enhancing the viability of investments.

‘‘Despite the adverse global economic environment of recent years, Nigeria’s investment environment has greatly improved both at the national and sub-national levels,’’ he said.

President Buhari assured captains of industry, and entrepreneurs, who have shown interest and commitment to further enhance trade and investment relations with Nigeria, that his administration would continue to work with them to improve the business climate especially as the African Continental Free Trade Area (AfCFTA) comes into full effect.

“Just last month at the Intra Africa Trade fair in Durban, I reminded business leaders that most of Africa’s challenges, whether security, economic or corruption, can be traced to our inability to domesticate the production of our most basic requirements and provide jobs to our teeming and dynamic youth population.

‘‘I am pleased that this Forum focuses on ‘Unveiling Trade and Investment Opportunities in Nigeria,’ and will encourage you all to keep an open mind and look beyond the challenges.

‘‘In this room, we have Governors, Ministers and Heads of Government Agencies that can address all your questions and concerns.

‘‘We are here to support you and I hope you will all take this opportunity to move your investment decisions forward,’’ he said.

President Buhari also used the occasion to express profound gratitude to his hosts, Sheikh Khalifa bin Zayed bin Sultan Al Nahyan, the President of the United Arab Emirates and the Emir of Abu Dhabi, for their unwavering commitment to strengthening trade and investment relations between both countries through various initiatives, partnerships and support.

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