Uk Reveals To Nigeria The Secret Of Attracting Foreign Investment

Improving the investment climate, among others, according UK Foreign Secretary, Jeremy Hunt, is one of the major ways. Mr Hunt said this a...

Improving the investment climate, among others, according UK Foreign Secretary, Jeremy Hunt, is one of the major ways.

Mr Hunt said this at a meeting with Vice-President Yemi Osinbajo, during the first Nigeria-UK Economic Development Forum (EDF), hosted by the Federal Government at the Presidential Villa.

The EDF was signed in August 2018 by President Muhammadu Buhari and Prime Minister Theresa May in London as a platform to foster economic and development ties between Nigeria and the United Kingdom

He noted that Nigeria’s current demographics require government and other stakeholders to improve efforts and other interventions aimed at tackling unemployment and other challenges.
Hunt advised the government to adopt steps aimed at improving the investment climate one of which is the approval of the revised Companies and Allied Matters Act.

Also speaking, the Minister of Industry, Trade and Investment, Mr Okechukwu Enelamah said a number of key decisions were reached at the end of the first Nigeria-UK Economic Development Forum, including work streams on standards, business to business linkages, clarification of regulatory frameworks, manufacturing and technology transfer, amongst others.

The highpoint of the event was the signing of the communique reached at the end of the first Nigeria-UK Economic Development Forum, by Enelamah and Hunt.

Meanwhile,  Vice President, Prof. Yemi Osinbajo has disclosed that Nigeria has experienced increased investment in last one year.

According to Osinbajo, investment interest increased from $66.4 billion in 2017 to $90 billion in 2018.

Besides, he said the administration has invested over N3.5 trillion on infrastructure in the last 3 years

The Vice President according to a statement signes by his media aide disclosed this at the first Nigeria-UK Economic Development Forum (EDF), held at the Presidential Villa.

The Economic Development Forum was signed in August 2018 by President Muhammadu Buhari and Prime Minister Theresa May in London as a platform to foster economic and development ties between both countries.

The vice president noted that the country has recorded 37% increase from 2017-2018.

He said, “We have seen increased investor interest in Nigeria by the investment announcements that we track, with $90.9 billion of investment announcements in 2018, a 37% increase over the $66.4 billion tracked in 2017. We are interested in these announcements because we know that if we nurture them correctly, we can turn them into actual investments.

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