Nigeria Now Investment Destination For Investors
With the prevailing political stability in the country, huge returns on investment, strengthening of the public private partnership and commitment to ongoing reforms,Nigeria has become a preferred investment destination for Investoes.This was made known by the Minister of Commerce and Industry,Chief Charles Ugwu and Executive Secretary of the Nigeria Investment Promotion Commission (NIPC) Engr. Mustafa Bello at the 5th Sino-Nigeria Business and Investment Forum (NBCIF) in Guangzhou,China.
The Minister told the huge gathering of Chinese investors and Nigerian businessmen that though conditions precedent for attracting investment into the country exist, the Federal Government is working tirelessly to ensure that the enabling environment surpasses benchmarks elsewhere.He made it known that the environment that exists in Nigeria is a safe one, the polity is stable, as we have just concluded a civilian-to-civilian transition and the opportunities that exist are tremendous.
He added that the consolidation of the banking and insurance sectors has put the Nigerian banks in good stead to provide the requisite financial services that will ensure the sustenance of the Chinese businesses. He said with returns of investment of 35-40 per cent and even as high as 70 per cent in some sectors, Nigeria presents one of the highest returns on investment (ROI) globally.He listed the sectors yearning for investments to include agriculture, pharmaceuticals, ICT, tourism, power, solid minerals and oil and gas among others.
The minister, however, emphasized the need for Chinese investments in the development of the petrochemical sector because of its multiplier effect on other sectors of the economy.He called on Chinese investors to make good the existing cordial relationship between both countries by making Nigeria their preferred investment destination.
In his own presentation, Bello observed that the reforms, which has enthroned new era of due process, transparency and anti-corruption initiatives and other institutional reforms have all contributed to strengthening the investment climate in the country.He said that the new regime of due process has saved the country $3 billion in the last three years.He reechoed Ugwu’s assertion that Nigeria remains one of the best investment destinations, citing the $500 million profit recorded by MTN in 2005, barley three years after setting up shop in Nigeria as indicative of this.
Moreover, he said that the BB- credit rating of the country by Fitch and S&P, and the forecast by Goldman Sachs that Nigeria will emerge as one of the 20 largest economies in the world by 2020 show that the country is a haven for investors.
Imo State Governor, Chief Ikedi Ohakim urged the Chinese investors to avail themselves of the prevailing atmosphere of peace and security and the investor-friendly disposition of his state and set up their businesses in Imo.He said that Imo State not only boasts of an educated workforce, its citizens are unarguably the most enterprising in the country.
The Minister told the huge gathering of Chinese investors and Nigerian businessmen that though conditions precedent for attracting investment into the country exist, the Federal Government is working tirelessly to ensure that the enabling environment surpasses benchmarks elsewhere.He made it known that the environment that exists in Nigeria is a safe one, the polity is stable, as we have just concluded a civilian-to-civilian transition and the opportunities that exist are tremendous.
He added that the consolidation of the banking and insurance sectors has put the Nigerian banks in good stead to provide the requisite financial services that will ensure the sustenance of the Chinese businesses. He said with returns of investment of 35-40 per cent and even as high as 70 per cent in some sectors, Nigeria presents one of the highest returns on investment (ROI) globally.He listed the sectors yearning for investments to include agriculture, pharmaceuticals, ICT, tourism, power, solid minerals and oil and gas among others.
The minister, however, emphasized the need for Chinese investments in the development of the petrochemical sector because of its multiplier effect on other sectors of the economy.He called on Chinese investors to make good the existing cordial relationship between both countries by making Nigeria their preferred investment destination.
In his own presentation, Bello observed that the reforms, which has enthroned new era of due process, transparency and anti-corruption initiatives and other institutional reforms have all contributed to strengthening the investment climate in the country.He said that the new regime of due process has saved the country $3 billion in the last three years.He reechoed Ugwu’s assertion that Nigeria remains one of the best investment destinations, citing the $500 million profit recorded by MTN in 2005, barley three years after setting up shop in Nigeria as indicative of this.
Moreover, he said that the BB- credit rating of the country by Fitch and S&P, and the forecast by Goldman Sachs that Nigeria will emerge as one of the 20 largest economies in the world by 2020 show that the country is a haven for investors.
Imo State Governor, Chief Ikedi Ohakim urged the Chinese investors to avail themselves of the prevailing atmosphere of peace and security and the investor-friendly disposition of his state and set up their businesses in Imo.He said that Imo State not only boasts of an educated workforce, its citizens are unarguably the most enterprising in the country.
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