Business

FG: Nigeria Remains Africa’s Preferred Investment Destination

The Federal Ministry Industry, Trade and Investment has stated that despite  security challenges and the harsh business terrain in the country, Nigeria is still the continent’s number one investment destination.
 
The Minister of State for Industry, Trade and Investment, Dr. Samuel Ortom, made this assertion during a courtesy call on him by Chinese investors led by the Chairman, Beijing Yeaco Investment Consulting Company, Mr. Zhou Dewer.
 
Ortom also pointed out that turnover on investment in Nigeria is high, making Nigeria very attractive to investors from all over the world.
 
The Minister said the Nigeria- China Business Forum organised by the ministry has started yielding positive growth, attracting a lot of Chinese investment into the country and urged the investors to maximise the economic potential available in Nigeria.
 
In his words: “Nigeria remains an investment destination because of her landscape, natural and human resources, and population. Our desire is to have enough investors coming into the country to invest and produce goods in the country that would create opportunities for jobs and wealth creation for Nigerians.
 
“We will stand by you to ensure that you do not regret coming to Nigeria. Opportunities abound in all sectors of our economy and through Nigeria you can reach other African countries.”
 
He reiterated that both countries are committed to promoting bilateral trade and investment relationships as well as sharing experiences in industry, trade and investment.
 
Ortom stated that Nigeria has agencies such as Standards Organisation of Nigeria (SON), Consumers Protection Council (CPC) and other agencies charged with responsibilities of regulating activities of industry and businesses in order to ensure that quality products are produced in the country.
 
“Today we have government agencies that are proactive and ready to ensure that our people are not shortchanged whatsoever. SON, CPC and other agencies are monitoring and enforcing the laws. We are committed through our agencies to ensure thatnNigerians get a worth for what they buy,” he said.
 
Earlier, the leader of the delegation, Mr. Zhou Dewer pointed out Nigeria has great potentials, natural resources and opportunities for investment  and maintained that the ministry of industry, trade and investment is a key ministry that will link up the investors for more opportunities in the country.
 
He said  the delegation is in the country to contribute to Nigeria’s economic development by investing in oil and gas, equipment technology, transportation, energy and construction adding that some of the investors are planning to invest about $130 million in the building, construction and energy industry in Nigeria.

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