FG seeks US support to attract investors

FG seeks US support to attract investors
July 30 06:49 2016

The Federal Government has called on the U.S. to 
support Nigeria to attract more investors into the
country.
 Hajiya Aisha Abubakar, the Minister of State for
Industry, Trade and Investment, made the call when the
officials of Nigerian- American Chamber of Commerce
paid her a courtesy visit in Abuja on Friday.

“America is a world leader in terms of investment and
we will need your support in assuring investors that
Nigeria is open and safe for business,’’ she said.
Abubakar said there has been a lot of improvement in
the relationship between the two countries in the last
one year.

She added that the country has put in place strategies
to improve on its ranking on doing business.
“I thank you for the support in the area of doing
business because as a result the easy of doing
 business committee has been constituted by President
 Muhammadu Buhari,’’ Abubakar said.
She thanked the group for inviting and sensitising the
ministry on the forthcoming U.S.-Nigeria Finance
conference coming up in October.
Abubakar appealed to the chamber to make available
details of the investment that came in following the last
conference in 2015, the number that is still to come and
those being negotiated.

In his speech, Alan Tousignant, Acting Deputy Chief of
Mission, U.S. Embassy said the two countries have
good relationship on trade and investment.
Tousignant said although 2016 has been a difficult year
for Nigeria’s economy the government was introducing
measures to stabilise the situation.
He said the two countries were striving to see what
they could do to promote investment.
Tousignant said the forthcoming conference would
provide an opportunity for the government to attract
more investment into the country.
He said the U.S. government was happy to hear that
Nigeria had taken steps to improve its world ranking on
the easy of doing business.

He called for more flexibility in the foreign exchange
policy.
“Those areas are very important to investors because
those are the first things they ask. They want to know
how easy it is to do business in Nigeria.
Sheriff Balogun, President, Nigerian- American
Chamber of Commerce, Kaduna State Chapter, said the
visit was to seek further collaboration with the ministry.
Balogun said the visit was in connection with the
forthcoming conference of the Small and Medium
Enterprises adding that the one held in 2015 has
increased the two countries’ trade relationship.
He said various financial institutions would be at the
conference and called on Nigerians to make use of the
opportunity.
“The conference will bring to Nigeria investors and
local companies opportunities to meet up with financial
institutions to boost their investment,’’ Balogun said.

(NAN)