Nigeria very safe for investors, says minister

The Minister of Communications, Adebayo Shittu, has described the Nigerian economy as one ready for investments, stressing that the atmosphere is conducive.

Shittu, who linked the fact that several investors have been in the country and many more on their way to the safe business environment, stressed that “Nigeria is safe for investors and return on investment (ROI) is assured. Our regulatory processes are open, effective and transparent.”

Shittu said this while playing host to the Swedish Minister of Trade and EU Affairs, Ms Ann Linde and the Swedish Business Delegation to Nigeria on Smart Cities, Innovation and ICT in his office in Abuja, yesterday.

To sustain this trend, the minister, in a statement, assured that the country was ready to re-strategise on how to attract more meaningful investments into the country from Sweden, leveraging on the ICT sector.

The minister specifically said that Nigeria will avail itself of opportunities that abound in Sweden being a knowledge society, ranked as the most digitalized economy in the world.

Addressing the delegates, he said,” Your global competitiveness depends on the ability to create, develop and, make practical use of new scientific discoveries. They invest in knowledge and competence and have used ICT as a key developmental tool and in creating jobs for her citizens. This is a special area interest and Nigeria will like to share and learn from Sweden”.

He said Nigerian government’s strategic focusing on broadband development and e-Government master plan fit squarely with the sustainable development goals for future growth plans.

Shittu explained that the aim of the visit was to share knowledge, build new long-term relationship and strengthen current relationship which can drive innovation and stimulate entrepreneurship as well as contributing to improved welfare and empowerment of people.

He expressed confidence in the Swedish-Nigeria Conference co-hosted by the Ministry and Swedish Embassy saying, it is set not only to map out collaborative efforts between Sweden and Nigeria but also for the fact that it is taking place in Nigeria.

He added that it is designed to further identify policy benefits, business opportunities, technology solutions, shared best practices and form a strategic relationship that drive Nigeria’s ICT and telecom industry in this period of economic meltdown to profitability and growth.

The minister assured the delegates that Nigeria will collaborate with Sweden in the area of ICT “to achieve the SMART Government Initiative as enshrined in the ministry’s Communications Roadmap, adding that the country will welcome more cooperation with Sweden in the area of human and institutional capacity development.”