Minister affirms renewed investor confidence in economy

Minister of Industry, Trade and Investment, Adeniyi Adebayo, yesterday, affirmed the resilience of Nigeria’s economy, noting that business owners are making various commitments to invest in the country.

Adeniyi spoke at the diplomatic luncheon of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) in Abuja.

According to him, “Nigeria is open for business and our investment climate is continually improving. The year 2020 was challenging for all economies but Nigeria is coming back strong.

“In the first half of this year, investment announcements were at $10.1 billion; an increase of 100 per cent from 2020. Investors from Europe, China, Morocco and the UK are making strong commitments and this administration is working tirelessly to ensure that these commitments turn into projects that positively affect our nation,” he said.

In a statement by his media aide, Ifedayo Sayo, the Minister said the Federal Government recognises the importance of attracting and retaining patient investment into the economy, adding that this accounted for the ministry’s commitment to the strategic relationship that exists with the Chamber.

He said the ministry would continue working with the Chamber’s leadership towards a collective objective of attracting more investments to the nation’s economy.

“AfCFTA will enhance Africa’s capacity to unlock growth and create jobs by building our industrial capacity, enlarging our productivity and making us more competitive globally. NACCIMA is pivotal in ensuring Nigerian businesses remain competitive in this new environment, ” he said.

He commended NACCIMA for putting the event together even as he encouraged it to remain committed to building a sustainable trade infrastructure within and across Africa for the benefit of the Nigerian business community.