Nigeria Strengthens Foreign Direct Investment Relations at the 2nd Existing FDI Roundtable
- January 31, 2025
- Posted by: NICCIadmin
- Category: News
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Nigeria has reaffirmed its commitment to fostering a more business-friendly environment and attracting foreign direct investment (FDI) as top government officials, business leaders, and foreign dignitaries convened at the Second Existing Foreign Direct Investors Roundtable and the launch of Nigeria’s Regulatory Impact Analysis Framework.
The event was organized by the Presidential Enabling Business Environment Council (PEBEC) Secretariat to address investment challenges and enhance regulatory policies.
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The event attracted key government officials, including the chief hostess, Princess Zahrah Mustapha Audu, Deputy Chief of Staff to the President, Senator Ibrahim Hadejia
Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, Minister of Industry, Trade, and Investment, Dr Jumoke Oduwole and Minister of Foreign Affairs, Yusuf Tuggar Other notable attendees included, Director of trade at the Ministry of Foreign Affairs, Akinremi Bolaji as well as the Executive Governors of Benue and Enugu States, Hyacinth Alia and Peter Ndubuisi Mbah and the deputy Governor of Osun State, Kola Adewusi
Presentation on the survey report was done by Princess Zahrah Mustapha Audu. This provided a very insightful overview of the requests of the foreign investors in order to remain and expand across in Nigeria. President of Nigerian Indonesian Chamber of Commerce & Industry, Ishmael Balogun, emphasized the rapid growth in trade between Nigeria and Indonesia, noting that bilateral trade volumes had surged from $1.7 billion in 2018 to approximately $4.7 billion in 2023.
He echoed Vice President Kashim Shettima’s remarks at the World Economic Forum in Davos, advocating for economic policies that prioritize equal partnerships over foreign aid dependency.
Balogun called for a predictable regulatory framework, foreign exchange stability, and infrastructure investment, highlighting the need to establish Free Trade Zones across Nigeria’s geopolitical zones to stimulate local production and reduce import reliance.
CBN Governor, Yemi Cardoso addressed concerns over foreign exchange fluctuations and monetary policy stability, assuring investors of ongoing financial reforms designed to enhance liquidity and economic predictability.
Minister of Industry, Trade, and Investment, Dr Jumoke Oduwole reaffirmed the government’s commitment to eliminating bureaucratic hurdles and improving the investment climate through regulatory impact assessments and streamlined business processes.
The Enugu State Governor, Peter Ndubuisi Mbah urged investors to explore opportunities beyond Nigeria’s commercial hubs, emphasizing his state’s readiness to provide incentives in key sectors such as infrastructure, technology, and agriculture.
Similarly, Benue State Governor Hyacinth Alia spotlighted agriculture and agro-processing as key areas of investment in his state.