Nigerian economy is coming back strongly just as foreign investors are making a commitment to invest in the country, Minister of Industry, Trade and Investment, Mr. Niyi Adebayo, s ays.
At a meeting with Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA in Abuja, Adebayo said: “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.”
He said Nigeria recorded investments of $10.1 billion in first half of the year, representing an increase of 100 per cent in 2020.
But investment announcements don’t necessarily translate to actual investments.
”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.”
”I would like to reiterate my ministry’s commitment to the strategic relationship that exists with the chamber and to continue working with the leadership towards our collective objectives.
“This is even more germane with the implementation of the Africa Continental Free Trade Agreement (AfCFTA).
“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.’’