Nigeria is now open for business – FG tells investors

– The Muhammadu Buhari’s administration has reassured foreign investors that Nigeria is open for business

– The government says it’s policy thrust is to create an enabling environment for businesses to thrive in Nigeria

– The government also says it will support foreign investments with various incentives

The government of President Muhammadu Buhari recently re-affirmed it’s determination to attract foreign investments into Nigeria.

Speaking on behalf of the government, minister of trade and investment, Okechi Enelamah said the government will do everything within it’s power to support investors pursuing business interests in Nigeria.

Minister of trade and investment, Okechi Enelamah giving his speech at the event

Enelamah who made the comment at the Nigeria -Turkey Business Forum 2016, said: ”We want to signal very strongly on the part of our government that, we are open for business.

”We will like to find multiple ways of collaborating with foreign investors and hope that our business enterprises, institutions and people, will take full advantage of this.

He also said the government will eliminate every obstacle that foreign investments always have when hoping to come into Nigeria.

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Some analysts have said President Buhari’s frequent trips abroad is a public relations strategy to attract foreign investments to Nigeria.

Recently, Nigeria’s minister of information, Alhaji Lai Mohammed told reporters at the presidential villa; Aso Rock that the trips were meant to attract investments to Nigeria.

He said: ”You do not run a country by being isolated and the personal presence of the president in many of these fora is very important because before now we were almost a pariah state and the two things that have been driving investments away from this country are terrorism and corruption.”

Also justifying the president’s frequent foreign trips recently,the  senior special adviser to the president on media and publicity, Garba Shehu, wrote: “President Muhammadu Buhari came into office under the mantra of change. While Nigerians are yearning for change, you need someone who will set up the infrastructure, both at home and abroad for it. President Buhari is busy doing that.”

Buhari’s retention of petroleum products subsidies, plans to raise spending in the face of declining revenue and the  fine charged on mobile-phone operator MTN Group Limited, was said to have made prospective investors wary of investing in Nigeria.

Perhaps, that is why there is a renewed drive towards assuring prospective investors that there is no cause for alarm.

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An investment expert, Kalu Abosi recently stated that Nigeria’s economic climate is still attractive for foreign investment despite its present challenges.

The expert disclosed that Nigeria, as the largest economy in Africa, with Gross Domestic Product (GDP) of 549.6 billion dollars, is still attracting foreign investments, especially from private equity funds.

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